Margaritaville Casino Biloxi Closes Down, Files for Bankruptcy

The Margaritaville Casino in Biloxi, Miss., has filed for Chapter 11 bankruptcy and has been shuttered, according to several sources. The move was made just hours before a scheduled hearing during which the landlord intended to seize the property. According to court papers, MVB Holding LLC has not paid rent since the casino opened and owes more than $3.8 million, plus $500,000 in taxes. The $62 million project opened in May 2012.