Rent paid by the Golden Nugget casino intended to go to the city of Biloxi, but that inadvertently went into the state general fund, has made its way to the Mississippi city.
The $2.6 million, which is most of the city’s share of the rent once divided between the property owners, is now where it belongs. A settlement agreement between the city and Secretary of State Delbert Hosemann will see the remaining $606,000 owed to Biloxi paid in January when the state Legislature session begins.
The city’s mayor, Andrew “FoFo” Gilich, said “The good news is that Secretary Hosemann has remitted to the city all of the money that was under his control, and we appreciate that,” according to the Sun Herald. Gilich added, “And the great news is that we’ll be receiving monthly rent payments moving forward,” as reported by the news agency.
According to the report, once the Biloxi City Council approves the agreement on Tuesday, monthly payments to the city will begin with the new fiscal year on October 1. Biloxi collects $3.2 million annually in rent from the casino resort which is within close proximity of Grand Biloxi, Beau Rivage, and Biloxi Beach.
The Golden Nugget Casino features 45,000 square feet of gaming including a 9-table poker room, over 1,200 slot and video poker games, 54 table games, five restaurants, three bars/lounges, and more than 22,000 square feet of meeting space.