Diamondhead Casino Corp. (DHCC.OB) Agrees to Extend LOI Entered into with Phoenix Gaming and Entertainment, LLC
Yesterday, Diamondhead Casino Corp. announced that they agreed to extend a Letter of Intent (LOI) entered into with Phoenix Gaming and Entertainment, LLC (Phoenix) for sixty days. Diamondhead Casino Corp. owns, via their wholly-owned subsidiary, Mississippi Gaming Corporation, approximately 404 acres of land in Diamondhead, Mississippi. The property is lien-free and debt-free and the zoning is for a casino as well as other commercial uses. The property fronts Interstate 10 for approximately two miles and the Bay of St. Louis for approximately two miles. Diamondhead Casino Corp. (DHCC) entered into an LOI with Phoenix on December 10, 2010. Under the…