Myriad, also headquartered in Tunica, will acquire the propertyat Perry and Indian Mound roads for cash, shares of restrictedcommon stock and percentage of gaming revenue. First phasedevelopment plans call for two casinos, each with a hotel, and a400,000-sf convention and exposition center, also with a hotel andan 18-hole signature-design golf facility. Also on the boards are aretail complex, health club and spa, botanical gardens, water parkand observatory. Future phases could include up to four additionalcasinos, among other options.


There are a few steps between here and there, however. One ofthem is funding. "We have the entitlements and we have our landdeal, which smoothes the way to get funding," says John Meeske,Myriad's CEO. "I think we have 11 people that have expressedinterest in funding so now we're waiting for the appraiser."


Once the paperwork is in place, sewers, pipes and otherinfrastructure can begin. As of now, the development site has beenapproved for up to six casinos in terms of zoning and site plans. APublic Improvement District was granted in January. Myriad has alsobeen granted up to $71 million in tax increment financing.


Also helpful to Myriad's cause is transportation infrastructureexpansion. Meeske tells that Interstate 69, which linksTunica to Memphis, has been expanded to four lanes, decreasingtraffic time. Also expanded have been the Memphis and Tunicaairports. "The area is really gearing up for this," he says, addingthat other developers are looking at Tunica for destination resortdevelopments as well. "They'll take their product and add to it,but we'll be a forerunner and be able to help Tunica become anational destination."

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