Choctaws say Golden Moon will re-open soon as full casino
Wednesday, July 9, 2014 1:00 AM
Refinancing an existing $70 million loan and access to an additional $75 million will allow the Golden Moon to re-open soon as a full-time casino, Mississippi Band of Choctaw Indians officials said last week as documents were signed during a formal ceremony at Pearl River.
From left are Steve Ainsworth with Fifth Third Bank, Chief Phyliss J. Anderson, Tribal Council member Cyrus Ben and Craig Sosebee with Trustmark Bank.
Documents were signed by Tribal Chief and Chairman of Choctaw Resort Development Enterprise Phyliss J. Anderson along with representatives from Trustmark National Bank and Fifth Third Bank last Wednesday in the lobby of the Golden Moon Hotel and Casino.
The new loan package will be used to renovate the Silver Star Hotel and Casino and re-open the Golden Moon Hotel and Casino, among other resort-wide improvements and capital investments.
The Choctaw Tribal Council adopted the resolution late last year to refinance an existing $70 million loan at the lowest interest rate ever offered to the Tribe. The resolution also included an action to secure a new low-interest loan up to $75 million for resort improvements.
New renovations are well underway and sample rooms and photos will be revealed in the near future as part of the 20th Anniversary Celebration.
"I want to thank the many people involved in securing this low-interest loan," Anderson said. "This deal is something every tribal member should have pride in because it is the best rates banks have ever given our Tribe. This deal clearly demonstrates banks and lenders have confidence in the work we are doing here at Pearl River Resort and on the Choctaw Indian Reservation."
Holly Gagnon, resort president and chief executive officer, said the renovations would include the remodeling of both Silver Star and Golden Moon hotels.
"In addition, we will welcome back the Golden Moon as a full-size casino with full gaming, and we are very, very excited about that," she said. "Over the last 20 years, this resort has seen several expansions. Whether it's been the addition of the Dancing Rabbit Golf Club, Geyser Falls, the Dancing Rabbit Inn, we continue to expand our portfolio. It's been a long and prosperous 20 years. It's hard to believe that it has been 20 years. We've seen a lot of customers. We had 140 'Day One' employees on Monday night celebrate their 20-year anniversary and it was one of the most rewarding things we've had here."
Gagnon said she was excited about the renovations.
"Our architect that is working on the project is Marnell Architects from Las Vegas. They have notable accomplishments including the Bellagio in Las Vegas and many others in their portfolio. We are very fortunate to have them designing our facility. We will be unveiling our renderings later this week as part of our 20th anniversary."
Pearl River Resort is celebrating its 20-year anniversary this year. It was in 1994 that the Tribe first opened its flagship casino, Silver Star Hotel and Casino.
Since then, the resort has expanded five times as well as expanded outwardly to include resort amenities such as the Bok Homa Casino, Dancing Rabbit Golf Club, Geyser Falls Water Theme Park and Clearwater Key Beach Club to name a few.
Pearl River Resort encompasses the Silver Star Hotel and Casino, the Golden Moon Entertainment Arena and Hotel, Bok Homa Casino, Dancing Rabbit Golf Course and Geyser Falls Water Theme Park.
The resort offers over 2,400 slot machines, 59 table games, electronic table games, eight poker tables, two hotel towers with 1,074 rooms, a large-scale events center, two nationally ranked 18-hole golf courses, a top-ranked waterpark, as well as a number of food and beverage options.
To learn more about Pearl River Resort visit www.pearlriverresort.com or call 1-866-44PEARL.