Site approval has been given by the Mississippi Gaming Commission to three other casinos this year including one in Long Beach, one at Lakeshore and another in D'Iberville.
The Biloxi House casino is the fourth casino currently on the table for South Mississippi, San Francisco Chronicle reports.
The Biloxi House casino will incorporate the original 68,000 square foot building that was the Margaritaville location but one of the developers, Tom Moore, tells The Sun-Herald "Nothing's going to be the same."
The new casino will have 300 rooms and when it comes to aesthetics it will be a combination of "Old Biloxi" authenticity and an environmentally-friendly look that incorporates lots of wood, steel and warm earth colors, Moore said.
The new casino will also feature a steak and seafood fine dining restaurant, a sports lounge, marina space, entertainment venues, and other amenities. It will also include a "unique amenity" that the Gaming Commission requires all casinos to have in order to grow the market.
Moore would not reveal specifics of the plan for the amenity but hinted that it will be partnering with "one of the largest events in the state of Mississippi."