Welcome to our dedicated page for DIAMONDHEAD CASINO news (Ticker: DHCC), a resource for investors and traders seeking the latest updates and insights on DIAMONDHEAD CASINO stock.
Diamondhead Casino Corporation (OTCBB: DHCC) is a seasoned entity in the gaming and real estate development sector. With over thirty-three years of experience, the Company transitioned from operating gambling ships in Florida to focusing on developing its prime property in Diamondhead, Mississippi.
Key Operations and Property:
- The Company owns through its wholly-owned subsidiary, Mississippi Gaming Corporation, an approximately 400-acre tract of land on Interstate 10 in Diamondhead, Mississippi.
- This property enjoys a unique location, fronting both Interstate 10 and the Bay of St. Louis, making it accessible and highly visible to over eighteen million vehicles yearly.
- It is zoned as a Special Use District-Waterfront Gaming District, permitting the development of a casino resort. Additionally, the Mississippi Gaming Commission has granted the site Gaming Site Approval for a fifty-acre section.
Recent Developments:
- In June 2024, the Company retained Colliers to assist in marketing and financing the development of the Diamondhead property or potentially selling it. Colliers has initiated marketing activities and is soliciting interest from potential buyers or partners.
- A recent settlement with Cooperative Energy resulted in a $1,000,000 agreement for easements along the northern portion of the property. To date, $845,378 has been received, with the remainder to be paid upon finalization.
Strategic Significance:
- Located between Biloxi and New Orleans, the site is positioned in one of the fastest-growing gambling markets in the U.S. Its strategic placement along Interstate 10, coupled with nearby airport access, underscores its potential as a premier gaming and mixed-use resort location.
- The partnership with Colliers, a leading global real estate and investment management company, reflects the potential and value of Diamondhead's properties, leveraging Colliers' extensive market reach and expertise.
Forward-Looking Statements:
The Company’s future plans are subject to various risks and uncertainties, including financial, regulatory, and competitive factors. Stakeholders are advised to consider these elements when evaluating the Company's strategic directions and market potential. Diamondhead Casino Corporation remains committed to maximizing the value of its assets and exploring all viable development avenues for its Diamondhead property.
Diamondhead Casino (DHCC) has retained Colliers to assist in marketing and financing its Diamondhead, Mississippi property or to sell it partially or entirely. The 400-acre site, situated along Interstate 10 and the Bay of St. Louis, has high visibility, with over 18 million vehicles passing annually. It is zoned for a casino resort, and the Mississippi Gaming Commission has approved a 50-acre gaming site on the property. Colliers aims to attract potential buyers for this prime gaming location. Additionally, DHCC's subsidiary, Mississippi Gaming , settled an eminent domain dispute with Cooperative Energy for $1 million, receiving $845,378 to date.
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