So as of right now, ROBK does NOT have the financing lined up and the commission declined to give them a 20 day extension according to the 8-K.
" On December 30, 2013, Rotate Black MS, LLC. (“RBMS”), an affiliate of Rotate Black, Inc. (the “Company”) appeared before the Mississippi Gaming Commission (the “Commission”) seeking Approval to Proceed with the construction of its Gulfport casino resort. At that meeting, the Commission approved the application, thus allowing RBMS to move forward with the closing of its financing and begin construction.
Approval was granted on the condition that Rotate Black obtain the necessary project financing, complete its documentation of the financing and fund the local vendors by April 1, 2014.
The Company obtained the full financial commitment for the project, but needed additional time to complete the proper documentation necessary to close the financing. To that end, the Company and its financing partner submitted an application for a 20-day extension of its Approval to Proceed. The Commission notified the Company that the extension request would not be considered as presented.
The Company intends to move forward with the project and regain it approval to proceed as soon as practicable.
The Casino Resort will be located on one of the last remaining gaming eligible sites in Gulfport, MS and will offer unparalleled vehicle and pedestrian access. It will be directly adjacent to the newly renovated Jones Park with its upgraded marina, pavilions, green space and art and entertainment facilities. The site is located at the intersection of Highway 49 and US 90 and will offer direct access to I-10 via the Central Harrison County Connector Highway currently under construction by the State of Mississippi.
