Casino dodges sale
Published 12:27 am Friday, September 18, 2009
NATCHEZ — A deal struck Monday between Grand Soleil Casino Resort and United Mississippi Bank, kept the bank from moving forward on foreclosure proceedings against the casino.
Grand Soleil attorney Kent Hudson said he was not at liberty to divulge details of the settlement between the two parties.
“It’s a business transaction,” Hudson said of the hotel and Briars property. “They were able to come to an agreement with the bank that brought resolution to the issue.”
The casino’s property was set for sale Thursday.
And this month was not the first time the casino was able to dodge foreclosure.
In February the casino was able to reach a deal with Britton & Koontz, which kept that bank from moving forward on foreclosure on three tracts of land owned by the casino.
Hudson has said financial woes as of late were due to the weakened economy and the resulting wariness of national investors.