MYRIAD BOTANICAL RESORT(Casino, resort planned to be located in Tunica County, 540 acres )

The Myriad Botanical Resort is a multi-attraction, themed resort planned to be located in Tunica County, Mississippi. Covering 540 acres along the Mississippi River, the resort will be dominated by large, cable-supported enclosures reaching heights of over 200 feet. These enclosures will be translucent on their lateral sides and transparent above to allow light to support growth of world-class botanical gardens.

These unique structures will also provide a climate-controlled environment for year-round enjoyment of the following:

* 80,000 sq. ft. casino * 1,200 room 4-star hotel * 375,000 sq. ft. convention center * 250,000 sq. ft. of retail (Phase 1) * 18-hole golf course (7,205 yards) * 2,500 seat venue * Luxury Spa * Water Park * Snow Park

In addition to the features listed above, the project may include an ice feature with various trails and skating rinks, a water feature with aquariums and lagoons, and a large observation wheel and ride. Additional entertainment venues such as music amphitheaters, a 10,000-seat arena with regular and premium seating options will be included as well as various thematic designs throughout the property.

The differing elements of the project will be linked by an indoor waterway transportation system. Other infrastructural needs will be supported by the state-of-the-art technology such as solar power, climate control and air-filtration technologies, as well as security and maintenance technology.

The resort also has expansion space available for the development of vacation villas along the golf course. This resort, the most ambitious resort development planned for Tunica County, would target a broad set of visitors, including:

* Casino players * Families * Conventions, exhibitions and trade shows (particularly botanical shows) * Golf enthusiasts

http://www.bizjournals.com/memphis/stories/2006/01/16/story2.html

Myriad prepares for Tunica invasion

$1.6 billion resort features enclosed 18-hole golf course
Michael Sheffield

Tunica may be moving closer to seeing the ever-elusive 10th casino added to the gaming landscape.

After receiving initial site approval for the property almost two years ago, Canada-based Myriad World Resorts has scheduled groundbreaking for Myriad Botanical Resort this July, assuming the three-person Mississippi Gaming Commission renews approval for the site. Site approval designations in Tunica last two years and Myriad's two years is set to expire in June.

Myriad CEO Scott Hawrelechko says once construction begins, different phases of the $1.6 billion project will be completed in 24-48 months.

"We will have to seek final approval from the commission before commencement of construction, which obviously needs to take place prior to the July 2006 target date," Hawrelechko says.

The 540-acre project, which is being touted as more of a resort than a casino/hotel, will feature an 80,000-square-foot casino, a 1,200-room 4-star hotel, a 375,000-square-foot convention center, which will be the first of its kind in Tunica; retail space, a 5-acre water park, a 2,500-seat auditorium and a "snow park," which will feature artificial snow and allow guests to ski, snowboard or ice skate any time of year in Tunica.

Perhaps most ambitious of all is a 7,205-yard, 18-hole covered golf course, which would be the fourth golf course in Tunica.

The concept for the golf course evolved from the nearly six months of snow in Edmonton, Alberta, that necessitated a covered course to allow Canadian golfers to hit the links. Hawrelechko says the Tunica covering will be more than 200 feet high and will maintain an average temperature of 75 degrees. The covering will be transparent to allow natural light to support growth of grass, trees and other course shrubbery.

He predicts the uniqueness of the course alone will attract curious golfers to play; the amenities of the facility will keep them there. The Tunica market, he says, is an ideal location for Myriad to build its first U.S. property.

"We are seeking other acquisitions," he says. "We believe the project may be what Tunica needs to attract a whole new demographic market."

The Myriad casino complex could be the project that changes Tunica's profile from a casino town to a true tourist destination, says Webster Franklin, CEO of the Tunica Convention and Visitors' Bureau.

"This isn't just a casino; it is a true resort development and it is something that, when and if it is completed, can bring visitors from all over," Franklin says. "The course is grandiose in scope, but people will have to come to play it because they'll want to see it. That'll add to our appeal."

The Tunica market has existed with the nine casinos it has for nearly 14 years, Franklin says. Even though most of those properties have changed hands over the years, the market is right for a new property.

"A billion-dollar development will draw more people and if that's the case, the destination can handle it," Franklin says.

Hotel consultant Chuck Pinkowski, principal of Pinkowski & Co., says the maturity of Tunica gaming has resulted in a "flattening" of that market and adding just another casino wouldn't necessarily bring more business.

"If this is done right, it'll give people a reason to come to Tunica who never go there and give people who have been there a reason to come back," Pinkowski says.

Hawrelechko says Myriad will utilize its assets to access public capital for the project and is currently putting together an expanded board and management team to focus on the development.

"We currently are exploring strategic financing alternatives consisting of equity to be raised through Myriad Entertainment and debt financing consisting of real estate, construction and equipment financing loans," he says. "Myriad currently owns 33% of the project, with the ultimate ownership structure resulting from our continuing negotiations with various sources."

Since the project is still being developed, he says other investors can't be named yet. The company's board, however, consists of professionals who have worked on successful attractions for companies like Disney.

Pinkowski says the Myriad project is definitely the right move for the mature Tunica market.

"If you look at Vegas 25 years ago, it was a gaming market for high rollers, but what made Vegas a tremendous success was when they diversified and added non-gaming related attractions," he says. "That's what Myriad is talking about doing. This development will attempt to do a lot of things at one time that happened over years in other markets."

msheffield@bizjournals.com | 259-1722

Tunica's airport is negotiating with a regional carrier to create hub flights into and out of the casino district.

First Ever Boeing 737 Jet Lands in Tunica
Friday November 11, 2005 10:53pm Reporter: Jessica

Boeing 737 Lands in Tunica as Airport Expands

Tunica, MS - The landing marks the beginning of expanded air traffic in the city and an economic boost for the Mississippi town.

Its about a 2 and a half hour drive from Little Rock to get to the flashing casino lights of Tunica, but with Friday’s historic landing, Tunica is hoping for more air traffic.

Cheerful visitors from Charlotte, North Carolina, made history Friday. They were the first passengers ever to step foot in Tunica's Airport from a Boeing 737.

(Gary Brown) "Thirteen hours driving and an hour and ten minute flying, so it's great."

Airport officials expanded the runway to 8500 feet in order to make room for the large jet and in hopes of more aircraft of this kind to come. The Tunica's Convention and Visitors Bureau is hoping to attract big business with more scheduled flights and even major carriers. Nearly 18% of business in the South Casino Capital comes from Arkansans who for the most part drive to Tunica.

(Michael Catalona) "Tunica has historically been a drive in market mostly local and some regional. This just reaches out to the east coast, the west coast, Chicago, anywhere. We have over 40 properties nationally so we can bring in people from all over the country. The sky is the limit."

There is some concern that this could detract business from the Little Rock National Airport, but experts do not anticipate that.

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