Company Summary: Diamondhead Casino Corporation

Overview

Diamondhead Casino Corporation (the "Company") is a Delaware-incorporated entity, originally founded as Europa Cruises Corporation in 1988. It currently owns undeveloped land in Diamondhead, Mississippi, with the primary intention of developing a land-based casino resort and associated amenities. The Company has no ongoing operations or revenue streams as of the date of this report.

Core Activities

• Main Purpose: To construct and operate a casino resort on approximately 400 acres of undeveloped property located at 7051 Interstate 10, Diamondhead, Mississippi.
• Development Status: The Company has been unable to secure financing or a joint venture partner to move forward with the casino project.
• Current Strategy: Exploring options such as selling part or all of its property or forming joint ventures. There are no operational casinos or hotels presently, and the effort remains in a planning/development stage.

Operations & Assets

• Properties Owned:
  • A 400-acre undeveloped property in Diamondhead, MS, zoned “C-2-Interstate Commercial/Gaming/Resort” which is suitable for casino development.
  • A small residential lot (less than a quarter acre) purchased in 2010, mainly to control access and appearance.
• Business Activities:
  • No current operations, no revenue, and no employees in Mississippi.
  • The Company has only one employee—its President—serving in an executive capacity.
  • The Company’s resources have focused on regulatory filings and seeking financing or sale of the property.

Financial & Market Details

• Revenue: No revenue or income from operations since 2000.
• Employees: Only one employee (the President and CEO).
• Market Capitalization: As of June 30, 2024, the market value of the voting common equity held by non-affiliates was approximately $6.3 million.
• Outstanding Shares: 36,297,576 as of March 31, 2025.
• Stockholders: Approximately 763 registered shareholders as of December 31, 2024.
• Stock Price & Liquidity: Traded OTC with highly volatile prices and low liquidity.
• Dividends: No dividends paid or expected; earnings are retained for future development or other strategies.

Regulatory & Development Status

• Gaming Approvals:
  • The Company’s subsidiary, Mississippi Gaming Corporation, has obtained a Gaming Site Approval from the Mississippi Gaming Commission for a 50-acre site on the property, granted in August 2014.
  • The approval is valid indefinitely but has not been converted into a license to operate or a development approval.
  • The Company requires additional permits, authorizations, and approvals from federal and state agencies before construction and operation.
  • No licenses to operate a casino currently held.
• Legal Proceedings & Risks: Ongoing legal issues related to debt and bankruptcy filings, but no current operations to generate revenue or involve customers.
• Market & Competition:
  • Competes with 26 casinos across Mississippi, including well-established competitors in Biloxi, Gulfport, and other Gulf Coast locations.
  • Anticipated competition from Louisiana casinos, including New Orleans-based casino and riverboat casinos.
  • No current customers or revenue figures; all plans are in developmental or exploratory stages.

Summary of Business Focus

• Primary Focus: Develop a land-based casino resort on undeveloped property in Diamondhead, MS.
• Current Status: No operational facilities, no revenue, and only one employee.
• Financials: No income since 2000; ongoing expenses are related to regulatory filings, property taxes, and legal proceedings.
• Future Plans: Seek financing, sale of property, or joint ventures to move forward with casino development.

Note: The Company is in a very early, pre-operational stage with no revenue, customers, or employees aside from its CEO. Its main asset is undeveloped land, and it is actively seeking ways to finance or sell this asset to pursue development or other strategic alternatives.