The financial backing is coming from Boston-based Dutchess Advisors LLC, which has OK'd its Private Equities Fund LP to purchase up to $20 million of Myriad's common stock. "This funding structure provides the flexibility for Myriad Entertainment to access supplementary funds required for general corporate and working capital purposes," Scott Hawrelechko, Myriad's executive chairman of the board of directors, says in a prepared statement. Hawrelechko could not be reached for comment.
Located near the under-construction Interstate 69, Myriad's first gaming venture will feature the world's first indoor golf course in a climate-controlled dome. Plans also call for development of an 80,000-sf casino, 1,200-room hotel, convention center, a five-acre water park and botanical gardens. Also on tap is an ice palace and snow park for skiing.
Located along US Highway 61 in the northwest corner of the state, the City of Tunica is expanding its infrastructure in anticipation of the resort's completion and opening. Part of the improvements is the lengthening of local airport runways. The developer, though, has yet to release a timetable for groundbreaking and completion.
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