Libra Securities served as financial advisor to Columbia Sussex in the Harrah’s Vicksburg transaction. Additionally, the company has contracted to purchase the River Palms Casino in Laughlin, Nev., and is awaiting regulatory approval for that transaction.

Earlier this year, the company purchased the Maxim in Las Vegas and is wrapping up a $40 million renovation of the 795-room hotel and casino, scheduled to open later this year as the Westin Casuarina, Las Vegas. It also operates franchises for brands such as Crowne Plaza, Holiday Inn, Westin and Radisson. “Columbia Sussex clearly recognizes the value the Harrah’s Vicksburg team brings to the acquisition and we look forward to continuing the customer-service tradition it has developed,” Yung said.Ĭolumbia Sussex operates 57 hotels, resorts and casinos in 26 states and overseas, including the Lighthouse Point Casino in Greenville, the Horizon Casino Resort in South Lake Tahoe and the Westin Casuarina property on Grand Cayman Island. The same report said Harrah’s logged 775,000 customer visits in 2000. In a 2001 report, Harrah’s reported $1.3 million paid in local taxes and lease installments and $4.8 million in gaming and sales taxes.

The casino has 42,500-square-feet of gaming area and an additional 186,545-square-feet of non-gaming space. As the market fleshed out, however, Harrah’s became the only downtown casino.Ī Mississippi Gaming Commission for the first three months of 2003 said Harrah’s employed about 400 people at the Vicksburg hotel and casino. In the beginning stages of local development, it appeared there would be a row of casinos extending immediately south of the Harrah’s site. Harrah’s has 117 hotel rooms and suites, about 700 slot machines and 15 table games, but is the smallest property in Harrah’s inventory. It’s been a thorn in their side,” Follmer said. “These people are really good casino operators, not that Harrah’s isn’t, but they’ve basically ignored this property. Curt Follmer, senior vice president and general manager for Rainbow, said he sees the change in ownership as positive for the local market.

Diamond jacks casino vicksburg ms