RotateBlack Inc. (ROBK)

[RandyKCMO]

ROTATE BACK MEETING WITH GULFPORT COUNCIL CANCELLED

Published: July 3, 2012 Appr. 12:36 EST

Read more here: http://www.sunherald.com/2012/07/03/4044018/rotate-black-meeting-with-gulfport.html#storylink=rss#storylink=cpy

By MARY PEREZ — [e-mail]

GULFPORT -- Today's special meeting with the Gulfport Council was called off as Rotate Black officials prepare to take their third proposal for Harbor Town Casino to the Gaming Commission July 19.

The $87 million investment now stands at $100 million and Rotate Black CEO John Paulsen said, "I'm very confident."

The Gaming Commission tabled Rotate Black's request to proceed in April and asked the developers to return with a bigger and better proposal for a casino at the Gulfport harbor. The developers returned in May with plans to enlarge the casino floor and rework the facade and the Gaming Commission rejected that plan by a 3-0 vote.

This new plan brings an unnamed national brand four-star hotel.

"We're increasing the size of the hotel to 200 rooms," said Paulsen. They also are adding an upscale swimming pool area with cabanas and increasing the casino and entertainment space to 35,000 from the original proposal of 21,000 square feet.

The facade of the resort won't change except for the height of the hotel tower, which Paulsen said will now will be five stories with 40 rooms per floor.

"It still fits in with the size and style of the marina," he said.

Paulsen said if the casino gets the Gaming Commission's permission to proceed, he hopes Yates Anderson can start construction August 1.

Read more here: http://www.sunherald.com/2012/07/03/4044018/rotate-black-meeting-with-gulfport.html#storylink=rss#storylink=cpy