Mississippi-based Gulfside Casino Partnership remains committed to its bid to establish and operate a commercial casino in Pope County, Arkansas. The company has now unveiled its updated $405 million plan for a commercial casino resort in Russellville.
The company’s pursuit for the license continues nearly six years after Arkansas voters first authorized a license for Pope County through a ballot referendum. The Arkansas Racing Commission (ARC) is now reviewing bids for the state’s final gaming permit, which includes rights to slot machines, table games, and sports betting.
Last week, Gulfside, led by riverboat gaming pioneers Terry Green and Rick Carter, submitted an updated proposal to the ARC for the River Valley Casino Resort in Russellville. The $405 million project outlines plans for a 70,000-square-foot casino featuring approximately 1,500 slot machines, 50 live dealer table games, and a sportsbook.
Additionally, the proposal includes a 300-room hotel, convention space, multiple restaurants and bars, an outdoor amphitheater, and a spa and fitness center.
Competing with Gulfside is the Cherokee Nation Businesses, a subsidiary of the Cherokee Nation in Oklahoma, which has proposed a $300 million development known as Legends Resort & Casino.
Also targeting Russellville, this project includes 50,000 square feet of gaming space with 1,200 slots, 32 table games, sports betting facilities, multiple dining options, and a 200-room hotel with various resort amenities.
The 2018 ballot referendum that amended the Arkansas Constitution to allow commercial casino gambling in Crittenden, Garland, Jefferson, and Pope counties requires casino bids to be accompanied by a letter of support from the current judge or quorum court of the targeted county. At present, only the Cherokee plan has received such an endorsement.
Pope County Judge Ben Cross and the Pope County Quorum Court expressed their support for the Cherokee proposal last year. As ARC reopened the bidding process for the Pope County casino license earlier this month, it was anticipated that only the Cherokee plan would qualify for review due to this support.
Despite this, Gulfside remains undeterred. The company plans to seek the county quorum court’s backing when presenting its case to the 13-member panel on June 6. Gulfside needs the support of seven judges for its proposal to qualify for consideration by the ARC.
To enhance its appeal, Gulfside is offering a $65 million upfront payment to the county upon receiving the license. Additionally, the company has committed to directing $2 million annually to the county for economic development, along with generating local tax revenue.
Judge Cross, however, stated: “I’m satisfied with the relationship that Cherokee Nation Businesses built within the community over the last five years. I don’t anticipate issuing any more letters of support.”
Gulfside attorney Casey Castleberry argues that their larger resort project, with a more substantial financial guarantee for the county, deserves the court’s support. “We think that merits consideration. It’s superior, frankly, to anything that’s been offered by any other potential applicant,” Castleberry stated during the resort’s unveiling.
The ARC has set a deadline of June 11 for the submission of qualified casino proposals.
Original article: https://www.yogonet.com/international/noticias/2024/06/03/72468-arkansas-gulfside-unveils-405m-pope-county-casino-resort-bid
