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Myriad Entertainment & Resorts, Inc.(fka MYRA) RSS Feed

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Welcome to Myriad Botanical Resort

Designed by Paul Ma, a world renowned creative designer for destination resorts and a member of our Board of Directors, the Tunica Botanical Resort will be based on a botanical garden theme and will offer world-class facilities and amenities along with unique experiences and services.

2/15/08 Development Update
The first phase of development calls for building out the site infrastructure and constructing:

The first two (2) of six (6) total casinos
1,000 casino hotel rooms
150,000 square foot convention and exposition center with a 600 room hotel
5,000 seat entertainment arena
18-hole signature design golf facility
Health club and luxury spa
Private label restaurants
Attractions including botanical gardens and a water/snow park

=======================================================================================================================================

Myriad Entertainment & Resorts Inc.
2565 Horizon Lake Drive, Suite 110
Memphis, Tennessee
38133

Telephone:  1-800-955-0762

A/S 305MM
O/S 45,521,821 as of May 9, 2008

5 difference sources of local news on MYRA.

1. Memphis Business Journal - http://investorshub.advfn.com/boards/read_msg.aspx?message_id=31150297
2. Memphis Daily News - http://investorshub.advfn.com/boards/read_msg.aspx?message_id=28817638
3. Commercial Appeal (local paper) - http://investorshub.advfn.com/boards/read_msg.aspx?message_id=30994715
4. Tunica Times - http://investorshub.advfn.com/boards/read_msg.aspx?message_id=31117316
4. audiovegas.com - Heard it on the River - http://www.audiovegas.com/Schiffer/Archives/

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Myriad Entertainment & Resorts, Inc. Enters into Agreement to Purchase Tunica Land
7/24/2008

(Tunica, Mississippi) July 24, 2008 - Myriad Entertainment & Resorts, Inc., a Delaware corporation (OTCBB: MYRA), today announced that it has entered into an agreement with Picture Window, LLC, a Mississippi Limited Liability Company to purchase approximately 250 acres of land in Tunica, Mississippi, the location of the Company’s planned world-class destination resort featuring gaming, hotel, spa, golf and other attractions. The parcel is located on the former site of the Treasure Bay Casino. Myriad has also arranged an option on additional property contiguous to this site with acreage similar to Treasure Bay.
”This new location for the Myriad development was the result of a study done by GVA Marquette Advisors of Minneapolis analyzing multiple locations for the building of this project,” said Nicholas A. Lopardo, the company’s Chairman of the Board of Directors and Interim Chief Executive Officer. “The Treasure Bay location was the original chosen site of the Myriad management team over four years ago however, an option was never able to be consummated. It is anticipated that this new site will require Myriad to spend substantially less in infrastructure costs than the previously designated site.”
Myriad has agreed to purchase the property for cash and an ongoing rent amount and has made the initial option payment of $100,000 per the land contract. The closing is scheduled on or before December 2, 2008; however, the Company can give no assurance that the closing will occur on schedule or at all. Myriad anticipates utilizing its previous tourism incentive grant from the state of Mississippi.
Myriad also provided an update relating to the collateral and loan term sheet, which the Company’s Board of Directors approved in March of this year. The Company reported that it continues to negotiate with the principal of the collateral and loan term sheet, which, if consummated, will provide approximately $700 million in financing for Phase One of the Company’s planned Myriad Resort in Tunica, Mississippi. This term sheet also provides for the funding of all phases of Myriad’s planned development in Tunica, up to $2.5 billion. In the meantime, the Company stated that negotiations continue with several other potential funding sources as well.
It is intended that the first phase of development will consist of building out the site infrastructure and constructing the initial 100,000 square foot casino, a 750 room casino hotel; a 25,000 square foot health and wellness luxury spa, a 35,000 square foot conference and meeting space; and attractions including a water park and an 18-hole championship golf facility.

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
ABOUT MYRIAD ENTERTAINMENT AND RESORTS, INC.

Myriad, owns, through its wholly-owned subsidiary, MER Resorts, Inc., a ninety-nine percent (99%) interest in Myriad World Resorts of Tunica, LLC, a Mississippi limited liability company ("Myriad-Tunica"). Myriad-Tunica's objective is to develop and build a $1.62 billion resort in Tunica, Mississippi. It is intended that the 500+ acre Myriad Botanical Resort will consist of a world-class destination resort centered on gaming, conventions, retail and attractions, and leisure real estate. The first phase of development calls for two casinos each with hotel, a major 600,000 square foot convention and exposition center with hotel, an 18 hole signature-design golf facility, a significant retail complex, a health club and spa, leisure real estate and attractions including botanical gardens, a water park, and an "Eye in the Sky" observatory. As part of a second phase of development, Myriad is exploring several additional attractions and up to four additional casinos. Myriad-Tunica has been granted development and gaming site approvals for the Tunica resort. For more information, see www.myriadworldresorts.com.

Website ~> http://www.myriadentertainmentandresorts.com/location.htm


Nicholas Lopardo
Chairman - Myriad Entertainment & Resorts Inc.



Mr. Lopardo is Past Chairman and Chief Executive Officer of Susquehanna Capital Management Group, an investment holding company based in North Reading, Massachusetts. Director of PerkinElmer since 1996. Chairman of the finance committee and a member of the compensation and benefits committee. Mr. Lopardo has been Chairman and Chief Executive Officer of Susquehanna Capital Management Group, an investment holding company, since January 2002. Mr. Lopardo retired in December 2001 as Vice Chairman of State Street Bank and Trust Company and Chairman and Chief Executive Officer of State Street Global Advisors, the bank's investment management group. Mr. Lopardo had been associated with State Street Bank and Trust Company since 1987, and previously held several executive level positions including Executive Vice President. When Mr. Lopardo joined State Street in 1987, it employed 35 persons and managed $9 billion. Upon his retirement in 2001, State Street had over 4500 employees and had assets in excess of $800 billion. Mr. Lopardo has over 38 years of experience in the pension industry, having served in a variety of roles with Equitable Life Assurance Society related to pension marketing, client relationships, and pension investment advisory services. He is a 1968 graduate of Susquehanna University, with a Bachelor of Science degree in marketing and management, and since 1992 has served as a member of the board of directors of the University, holding the position of Chairman of that board in 2000 and 2001. He was also Chairman of the advisory board of the Weiss School of Business at Susquehanna University and is Chairman of the Board of the Landmark School, a premier secondary school for dyslexic students. Mr. Lopardo is also a board member of the Boston Partners in Education and USA Hockey Foundation, and is an advisory board member of the Salvation Army. 

Board of Directors:

http://www.myriadentertainmentandresorts.com/board.htm

 

 


 

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