Deal for President Casino Resort Complete - Tuesday 12th of April 2005

Broadwater Development LLC has completed its deal to buy the 240-acre President Casino Broadwater Resort property.

The deal was closed Friday, two days after the Mississippi Gaming Commission gave its approval to Silver Slipper Casino Venture to operate the casino until Broadwater Development goes ahead with its plans to sell the gambling barge and replace it with a larger casino at the Biloxi beachfront site.

There was an unexpected development this week.

Roy Anderson III and W.C. "Cotton" Fore bought out the Miami-based Dezer Development Group's half of the new ownership group. "They no longer have an interest in the project," Anderson said Friday. He would not reveal details of the buyout.

Anderson said he and Fore "have a specific vision for the project. Since we're local we wanted to own 100 percent."

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