Natchez Riverside Entertainment, LP
Natchez Riverside Entertainment, LP (NRE) was formed in 2009 and is a limited partnership of 44 EB-5 investor limited partners with day-to-day management controlled by the general partner, RJ Capital LLC. EB-5 investors are responsible for $22,000,000 of the project’s greater than $50,000,000 development budget. NRE funded the construction of the Magnolia Bluffs Casino, a casino on the banks of the Mississippi River in Natchez, a historic town in southwestern Mississippi.
Construction of the casino began in 2011 and it opened in December 2012. Magnolia Bluffs is significant because it was the first land-based casino Mississippi; previously, gaming was only permitted on river boats. Magnolia Bluffs was built partially on land and also above the water, which presented several logistical and engineering challenges, but the exquisite final products shows that navigating those challenges was certainly worthwhile. Today, the casino is opened and thriving under the management of Kevin Preston, an experienced casino manager who relocated to Natchez to take part in this development.
At the I-526 stage, investors enjoyed a 100% approval rate. The NRE project has created over 600 jobs in the local economy through 2014. Investors’ I-829 petitions began to be approved in January 2016.