Biloxi Casino Deal Wavering

A $400 million casino project, the first major investment for the Coast since Hurricane Katrina, could fall through because Biloxi and the developer have not agreed on a price for city-owned waterfront.

Biloxi Mayor A.J. Holloway said he is committed to achieving the best deal for the city and will not rush into important decisions. Read more here.

Frankly, this situation does not surprise me. It is not easy to do deals in the rebuilding environment that faces many Gulf Coast communities. Patience is the word, and be very clear about setting expectations about return on investment (ROI). That is my advice to both the public and private sector on deals like this.