Oct. 17–GULFPORT — A 50-year lease was signed Thursday morning by officials with Island View Casino and the Mississippi State Port Authority.
It begins with a 10-year lease and has multiple extensions. The terms require Island view to invest at least $30 million on the site south of U.S. 90.
Island View owner Rick Carter recently announced he and co-owner Terry Green will spend $50 million to restore the former Gulfport Grand Casino tower on the beach.
He said signing the lease allows them to move ahead with construction.
“We’re starting demolition (of the interior) within the next week of so,” he said. The hotel will have 400 rooms and about 56 suites, a waterfront swimming pool, restaurant, lounge and gym.
Jim Simpson, president of the board for the port, said that between the recently-signed contract with DuPont and now Island View’s lease, “It could be as much as a $100 million investment.”
Gulfport Mayor Billy Hewes said the additional hotel rooms will bring new people and investment to the city. “It’s a lot to get excited about.”
