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Arneault Is New Diamondhead Chairman

Arneault Is New Diamondhead Chairman

Former MTR Gaming Group Chairman Ted Arneault will replace Deborah Vitale as chairman of the board of Diamondhead Casino Corp. The company was created to develop a casino in Diamondhead, Mississippi.

Vitale said Arneault was chosen for his experience in the casino industry as well as his background as a certified public accountant.

The company recently closed on the first $1 million of a $3 million debenture offering convertible to common stock, which is a method companies use to finance projects, Vitale added. It will be easier to get additional funding after the casino has site approval, she said.

The property had site approval for two casinos on the Bay of St. Louis before Hurricane Katrina.