Universal Music Group Announces $1.2B Resort In Mississippi
A coastal Mississippi city will be among the first sites to launch a hotel and casino backed by a major global music corporation, according to officials.
The $1.2 billion Biloxi resort, a partnership between Universal Music Group and the Dakia U-Ventures investment group, is set to include a large performance venue, a 1,000-room luxury hotel and a casino, according to a Friday announcement from the groups, which are also launching similar ventures in Atlanta and Orlando, Florida.
The Biloxi City Council in June approved a tourism tax incentive to redevelop a 266-acre (108-hectare) property that was once the site of the Broadwater Beach Hotel, marina, and golf course, according to the city resolution. The historic resort was built in 1939 and closed in 2005 shortly before Hurricane Katrina destroyed the property, news outlets reported.
Universal called the venture a “music-based experiential hotel” property and said it would include elements of the city’s rich local music scene.
The project was estimated to bring more than 2,500 jobs to the area.
Gov. Tate Reeves supported the development, saying it would bring “fun and economic growth for the people of Mississippi.”
“Universal Music Group is a natural fit, considering the rich musical legacy of Mississippi and Biloxi in particular,” he added.