Universal Music Group (UMG) has announced plans to enter the hotel and casino market with a $1.2 billion development for a new location in Biloxi, Mississippi.
The new 266-acre property will target the old Broadwater resort, which is expected to be one of three hotel developments by UMG. The new Biloxi establishment will provide direct competition for the Hard Rock Casino.
UMG also chose Atlanta, Biloxi and Orlando as the locations for their new foray into the hospitality and casino business. The UMG includes companies such as Capitol Records, Def Jam recordings and Abbey Road Studios in its stable. The hotels and casinos will be themed to reflect the company’s connection to its entertainment heritage.
Biloxi Mayor Andrew Gilich was delighted with the opportunities that the new hotel and casino will bring to the local community:
“Music and entertainment has always been a part of Biloxi DNA. What the UMUSIC Broadwater Hotel brings with its opening is reflective of this 320 plus year history. The people of the city of Biloxi, the state of Mississippi and beyond will benefit greatly from the addition of this hotel to our landscape.”
Chairman of Dakia U-Ventures LLC, Robert Lavia released a statement to the media:
“Every destination holds a great story just waiting to be told through its cultural heritage and its music. Through this new concept, we will both help people discover new ways to channel their love for music and the arts and help empower the transformation of communities worldwide through cultural, inspirational, creative and conscious collaboration. And we’re thrilled to work together with Universal Music Group who shares our vision and passion about the powerful role of culture and music for each community we touch.”
Mississippi Governor Tate Reeves was pleased with the result for his state:
“We are excited to welcome this new property to Mississippi! The gaming industry has provided countless opportunities for good work in our state, and brought in a tremendous amount of revenue. It attracts visitors from all over the globe. Universal Music Group is a natural fit, considering the rich musical legacy of Mississippi and Biloxi in particular. This will be a great partnership that will provide a lot of fun and economic growth for the people of Mississippi.”