Universal Music Group (UMG) and Dakia U-Ventures, an investment group based in Miami, are coming together on a new venture in Biloxi, Mississippi. The two will be creating a new music-based casino resort that will cost $1.2 billion to create. The venue will be the first of its kind owned by a major music corporation.
New Casino Resort
The new venue is part of the UMUSIC Hotel line of UMG and Dakai. The partnership has plans to create a similar venue in Orlando, Florida and one for Atlanta, Georgia. However, these two properties will not offer casino gaming. In Biloxi, the casino will be a direct competition to the Hard Rock Casino as it too has a musical theme.
If you are unfamiliar with UMG, they are a huge music company, having taken over many well-known record labels including Def Jam and Capitol Records. Among the list of signed artists under the brand are such acts as Madonna, Queen, Drake, The Beatles, and Justin Bieber, just to name a few.
With UMG getting involved in the casino industry and in the same area as the Hard Rock, they have the potential to do serious damage to the established business. They could easily take on better acts and visitors will be more likely to travel to the new venue than the existing Hard Rock.
Location of the New Venue
The new UMG casino resort will be located at the Broadwater Beach Hotel. This location was destroyed by Hurricane Katrina back in 2005 and consists of a marina and golf course onsite. The resort was established in 1939 and was actually an illegal gaming house at the time.
The venue stopped providing illegal casino gaming in the 1950s, becoming a premier destination for travelers. By the early 1990s, the region had legalized casino gaming and the property launched gaming soon again, but in a legal format.
However, by the early 2000s, the property filed for bankruptcy. It was purchased by developers in 2015, but unfortunately the takeover took place just one more before Katrina took place.
Earlier this year, the city council in Biloxi approved a tourism tax incentive that allows the plot to be redeveloped. This has led to the plans now for the property, which will be a welcome sight to locals as well as travelers to the region.
Plans for the property have been provided by the two companies. With the design of the new property, it looks like the hotel will be in a semi-circle shape. There will be glass spanning the entire front of the hotel. A video board will be placed at the center of the glass and will be visible from the water.
The renderings by UMG show the property with the Broadwater Marina restored to its former glory. UMG has a plan to use each property destination and tell its story through cultural heritage and music. With this concept, people will be able to find new ways to channel a love for music as well as the arts.