New casino proposed for the Mississippi Gulf Coast

The $250 million Can Can Casino has been proposed for D’Iberville, which is on the Back Bay of Biloxi near Interstate 110. The site is adjacent to a $200 million retail center.

The Can Can is proposed to have a 250-room hotel tower, 1,800 slot machines and 40 table games.

Developers, who haven’t secured financing for the project, would like to open the casino by 2012.

“We believe it will be difficult to obtain financing for a greenfield project like this, especially as a single-asset company in a saturated market,” Union Gaming Group principal Bill Lerner said.

Mississippi Gulf Coast gaming revenues declined 11 percent in 2009 and are down 14 percent since recovering to a high figure of $1.3 billion in 2007, two years after Hurricane Katrina shut down gaming on the Gulf Coast for several months.

Biloxi’s largest casino, Beau Rivage, was closed for a year after the storm.