Former Margaritaville site is for sale after progress lags on $200M KISS casino
Plans to create a $200 million Rock & Brews casino resort at the former Margaritaville Casino Biloxi haven’t moved forward, so the building is up for sale.
Southeast Commercial Realty listed the casino property on Fifth Street in East Biloxi for $15.9 million, said Monte Luffey, a principal with the Gulfport real estate company.
In 2015, the casino site was listed for $18 million.
The property has been marketed by various real estate agencies — and has had interest from several developers — since the casino closed in 2014.
Southeast Commercial Realty recently was signed to market the property and Luffey said the owner told him the developers are still trying to bring Rock & Brews to Biloxi.
Rock & Brews continues to make progress, said Tom Moore, a local developer who is working with Rock & Brews management and investors. Moore said the site has been for sale for years.
In late 2019, a letter of intent was signed to turn the former Margaritaville Casino Biloxi into the newest Rock & Brews, Moore said.
Rock & Brews restaurant and hotels are owned in part by Gene Simmons and Paul Stanley of KISS.
The project was ready to move forward and a symbolic groundbreaking was scheduled when the coronavirus hit in 2020.
The building is on 10 acres overlooking the Biloxi Bay, according to the listing. It was built in 2012 and the 92,000 square foot casino has windows overlooking the water, bar space, an event venue with stadium seating and large covered outdoor decks and patios.
Mississippi Gaming Commission adopted new regulations since the casino closed that would require a 300-room hotel and other amenities for it to return as a casino.
While the building is an approved casino site, it could be something other than that, Luffey said.
“The building is fully wired to accommodate a casino operation and has the mechanical systems to be built out for a variety of applications,” the listing said.
Among the applications suggested by the listing are adapting it for a data technical center or blue economy business. Luffey said he is getting calls from high-tech companies considering South Mississippi and looking for a large space.
He said he’s had a lot of contacts about the building since it was posted on the major real estate websites.
This story was originally published March 18, 2022 at 11:34 AM.
