BILOXI, Miss., May 16 -- Harrah's Entertainment, Inc.  along with world-renowned singer and songwriter Jimmy Buffett, today unveiled plans for a new Gulf Coast destination; Margaritaville Casino & Resort on the shores of Biloxi. The Margaritaville project is expected to cost more than $700 million, representing the single largest investment in Mississippi since Hurricane Katrina. The company expects this to be the first phase of a development that may cost more than $1 billion.

"I am privileged to announce Harrah's plans for Margaritaville Casino & Resort in Biloxi," said Gary Loveman, chairman, chief executive officer and president. "Along with Jimmy Buffett, we plan to develop the next generation destination resort on the Gulf Coast. This project of more than $700 million dollars is vital to supporting the rebirth of Mississippi's tourism industry."

See the full press Release on our Margaritaville Casino Page.