Universal Music Group plans $1.2B resort in Mississippi

BILOXI, Miss. — A coastal Mississippi city will be among the first sites to launch a hotel and casino backed by a major global music corporation, according to officials.

The $ 1.2 billion Biloxi resort, a partnership between Universal Music Group and the Dakia U-Ventures investment group, is set to include a large performance venue, a 1,000- room luxury hotel and a casino, according to a Friday announcement from the groups, which are also launching similar ventures in Atlanta and Orlando, Florida.

The Biloxi City Council in June approved a tourism tax incentive to redevelop a 266acre property that was once the site of the Broadwater Beach Hotel, marina, and golf course, according to the city resolution. The historic resort was built in 1939 and closed in 2005 shortly before Hurricane Katrina destroyed the property, news outlets reported.