By The Associated Press
TUNICA — An Oxford-based group has announced it has entered into a development and management agreement to locate a new casino at the site of the closed Isle of Capri property in Tunica County.
Abston-McKay Ventures LLC and Lakes Entertainment Inc. announced the deal Monday.
Officials say in a statement that the new casino would be independently owned by Abston-McKay Ventures and Orr Family Properties, a Tunica, Miss.-based LLC.
Minnesota-based Lakes Entertainment is led by Lyle Berman, who helped found Grand Casinos in 1990 before its sale to the gaming division of Hilton Hotels.
The new casino will require regulatory approval from the Mississippi Gaming Commission.
The Isle of Capri was first opened in 2000. It closed in 2002.