Rick Carter: Copa will make state, city ‘proud’ as it develops Grand Casino property

By TOM WILEMON
tewilemon@sunherald.com

GULFPORT – Harrah’s Entertainment announced this morning that it is pulling out of Gulfport and selling its Grand Casino property to Gulfside Casino Partnership, the owner of Copa Casino.

Rick Carter, one of the owners of the Copa, said the purchase of the property which stretches from 30th Avenue to 36th Avenue south of 11th Street and north of U.S. 90 is a wondferful opporunity for the casino. It includes the Oasis Hotel. The Copa is also buying Harrah’s other assets, including the hotel on the south side of the highway on land owned by the State Port at Gulfport.

Gulfside Casino Partnership is still in the planning process, Carter said.

“We’re not sure what we’re going to be able to do,” Carter said. “We’re going to do whatever is best suited for the property and do whatever the city leaders of Gulfport want us to do.”

The group wants to resolve issues so it can get moving with the development. Roy Anderson Corp. may be hired to do the work.

“We want to put people back to work as soon as we can,” Carter said. “We have been talking to Roy Anderson who is going to be able to go 24-7 and put this on a fast track.”

The purchase price was not disclosed in a press release issued by Harrah’s. The company is selling the property to the Copa group in an “as is” condition and will retain all insurance proceeds from damage to the property from Hurricane Katrina. The sale is expected to close by the end of the first quarter of 2006.

Harrah’s remains bullish on Mississippi despite its decision to sell. Although it is selling in Gulfport, the world’s largest casino company plans a major investment in Biloxi.

“We are fully committed to this state and are excited about the opportunity to design and develop a first-class resort at our Biloxi site that will complement our substantial entertainment offerings in northwest Mississippi,” said Anthony Sanfilippo, president of Harrah’s operations in the central United States. “And by selling these assets to our neighbors in Gulfport, we will give the owners of the Copa site the additional space they need to develop an ambitious project of their own. This agreement is a significant step toward the rebuilding of the Mississippi Gulf Coast.”

Harrah’s New Orleans is set to reopen in February. Sanfilippo said Harrah’s employees who worked at the New Orleans will be given first priority for jobs with the reopening. Harrah’s employees who had worked at the Mississippi Coast and Lake Charles, La., properties will be given second priority in the hiring.

Read more about this story as it develops at www.sunherald.com. A full story can be found in Wednesday’s editions of the Sun Herald.