Myriad's Board Approves Loan Term Sheet for Resort
March 12, 2008
Myriad Entertainment & Resorts Inc.'s board of directors has approved a collateral and loan term sheet that is expected to provide up to $2.5 billion in financing for each phase of the company's Tunica County project. Myriad Entertainment is developing a major resort in Tunica. The newly approved finance package is expected to provide up to $675 million that will go toward financing the first phase of the project. Among the expected features of the resort's first phase will be development of the casino resort's infrastructure, building a 100,000-square-foot casino, a 750-room casino hotel, and a 25,000-square-foot health and wellness luxury spa, among other things.