City receives $1.5M casino payment

Published 12:11 am Thursday, December 19, 2013

NATCHEZ — The City of Natchez received more than $1.5 million from Magnolia Bluffs Casino Wednesday on the casino’s one-year anniversary, marking a series of payments due to the city.

City Clerk Donnie Holloway said the city received checks for the casino’s first payment of $225,000 to a community development fund, $333,000 contribution toward a YMCA, recreation center or Civil Rights Museum and $1 million rent payment.

The payments are provisions of the casino’s lease with the city, which was finalized in February 2012.

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The $40 million, 45,000-square-foot casino opened Dec. 18, 2012.

The casino has 580 slot machines, 10 table games, a center bar with 27 poker games, a player’s club, Cypress Mill, which is an Italian steakhouse, a lounge named 180 Lounge and a buffet named Bandsaw Buffet.

As outlined by the lease, the casino will contribute $225,000 annually to a community development fund.

The $333,000 is the first of three payments of $1 million that will be paid over a three-year period. The casino will also pay 5-percent interest on the last two payments, bringing the total contribution to $1,050,000.

The $1 million rent is due annually to the city per the lease.

The City of Natchez has already received a rent payment and used it to kick-start a street improvement program that includes repaving some roads and micro-sealing others.

Mayor Butch Brown said he was pleased the payments came in Wednesday. Brown said he is not yet sure how the city will utilize all the money.

“I’m sure my board (of aldermen) members will have a long list of how to spend it,” he said, laughing.