The Gulf Coast is where the bulk of the Mississippi gaming industry¡¯s revenue is realized. Of the nearly $2.67 billion won last year by the 26 casinos in the state, the 11 coastal casinos accounted for $1.6 billion of the money.
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The initial rental rate on the property will yield Oak Street an 8.5% annual capitalization rate, adjusting to 7% as the casino receives gaming approvals. The rent rate is subject to CPI increases, the companies said in a release.
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