Cato still interested in casino
Published 12:00 am Sunday, August 14, 2005
NATCHEZ &045; When Florida developer Charles Cato published a legal notice in Monday’s newspaper announcing he would apply for a gaming license from the state, it may have seemed like dj vu.
And in fact, Cato did apply last year for a gaming license for a planned 87,000 square-foot casino barge he still hopes to place just south of the Mississippi River bridge.
But Cato said Monday he had to reapply because his company, formerly Emerald Star Casino & Resort, changed its name.
The new name, Emerald Star Casino &045; Natchez, LLC, reflects the company’s current status as a limited liability corporation, a change Cato said his partners requested for tax purposes.
&uot;It’s just a procedural thing,&uot; Cato said, adding he hopes to be on the Mississippi Gaming Commission’s October agenda for approval of his financial plans and gaming license.
The company’s name is not the only thing that’s changed about Cato’s plans, however.
Last year Cato said he planned to buy the 162-room Ramada Hilltop, which he planned to renovate. After those talks fell through, however, Cato said he decided to build his own hotel adjacent to the casino site.
&uot;We’re finishing the hotel plans, Š (but) I hope to have more details for you next week&uot; in terms of the hotel’s amenities and number of rooms, Cato said.
According to Monday’s legal notice, Cato’s casino would have 44,000 square feet of gaming space with about 920 slot machines &045; an increase of more than 100 machine from what Cato previously estimated &045; and 26 table games.
The Gaming Commission approved the site and development plan for Cato’s casino complex, an estimated investment of more than $50 million, in February 2004.
That same month, he closed a deal on 21 acres of riverfront land on which to place the casino, land just south of the Mississippi River bridge.
Emerald Star must also secure environmental permits as well as approval from such agencies as the U.S. Army Corps of Engineers &045; approval Cato said he’s applied for and hopes to receive shortly.
Cato is also required to submit a site plan to the city’s Planning Commission for its approval.
In 2003, Cato had talked with city officials about the possibility of locating a casino at the city-owned Roth Hill property and using three other on-the-hill properties for, among other things, a convention center hotel.