Casino news source: Sun Herald - http://www.sunherald.com/
Copeland holding out in Windjammer sale
Restaurant developer wants to open casino
By TOM WILEMON
tewilemon@sunherald.com
BILOXI - The majority of condominium owners at the Windjammer are asking a judge to force three holdouts to sell their interests to California developers who have proposed squeezing a casino resort onto the 1.5-acre site.
The California developers, Wilton-Henson Associates, have offered $25 million for the waterfront property between Beau Rivage and the Hard Rock casinos. Their contract gives them the "sole and absolute discretion" to terminate the agreement and be refunded their deposit during a 90-day feasibility period.
One of the holdouts is restaurant and real estate developer Al Copeland, who also aims to use the property for a casino resort. He owns two units and is buying two others. Copeland also owns acreage directly across U.S. 90 from the Windjammer. He contends it is impossible for anyone to develop a casino resort and condominium on 1.5 acres.
The other holdouts are Bobbie Skrmetta and W.G. Yates & Sons Construction Co., which also tried to buy the property.
"What this really boils down to is nobody can put a casino development there but me," Copeland said.
If he acquired the Windjammer and added it to what he already owns, he said he would have about a five-acre footprint. Copeland said he has also offered the condominium owners $25 million. Wilton-Henson Associates gave the condominium developers the option of taking their share of the $25 million or a 1,900-square-foot replacement unit and marina slip.
Density limitations set by the city of Biloxi and infrastructure required by the Mississippi Gaming Commission would prevent a casino resort and condominium development from going on 1.5 acres, said Michael Cavanaugh, Copeland's lawyer. Generally, casinos in Biloxi have had a footprint of six acres or more.
Copeland has bought additional parcels around the old Bombay Bicycle Club property, which he has owned for years. Copeland founded the Popeye's chain, then acquired Church's and later sold them. He still supplies the restaurants through another business he owns and receives royalties for the use of his recipes. The restaurant brands he owns include Copeland's of New Orleans, Copeland's Cheesecake Bistro and Sweet Fire and Ice. In addition he owns the Improv Comedy Clubs and three hotels. |
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