Mississippi Gaming Commission recently approved the new casino plans presented by Leucadia National Corp., a New York based enterprise, which is interested in rebuilding Biloxi’s Hard Rock Casino and Resort. The floating Casino was scheduled to open the same day that hurricane Katrina destroyed it. The casino value was $235 million.

Lawrence S. Hershfield, Executive Officer for Ranch Capital LLC, reported that after the hurricane the casino was totally destroyed. Hershfield also said that the casino was going to be rebuilt on dry land after legal and insurance issues were taken care off.

The deal is going to be closed in a few weeks. Tom Vaughn, the project’s lawyer, said the Casino would have 1,500 slot machines and 50 game tables. Also, according to Premier Entertainment, the company may open a Casino inside the hotel that would cost, approximately, $67 million and the construction would take 8 months.