Developers of a Gulfport Harbor casino want to delay by two months the timeline they told city officials they would meet for final Gaming Commission approval and the start of construction.
The Gulfport Redevelopment Commission, which owns a portion of the harbor property where the casino would be built, will consider the request at a meeting next week.
A two-month delay would mean developers would request permission to build from the state Gaming Commission early next year and begin construction in the spring.
Virginia attorney Robert Lubin told city leaders the project could be delayed over financing. Mississippi Coast Entertainment LP, headed by Lubin and Kevin Preston of Magnolia Bluffs Casino-Hotel in Natchez, needs more time because of uncertainty over the future of an investment program the partnership is using to finance the casino.
Chinese investors have grown anxious because an offshoot of the federal EB-5 program being used expires at the end of September. Many are waiting to see if the program will be renewed. An investor pays $500,000 for a partnership in a project with the expectation 10 jobs will be created. In exchange, the investor gets a green card that entitles him or her to permanent U.S. residency.
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