TJM Properties purchase 2,000 acre complex from Caesar’s Entertainment

Tunica, MI The owners of TJM Properties of Clearwater, Fla. have closed on the purchase of Harrah’s Tunica, a 2000-acre resort complex. Known as the South’s Casino Capital, Tunica is a tourist, gambling and entertainment destination, located on the Mississippi River. The area is home to world class casinos, 6,000 hotel rooms, dining restaurants, spas and golf and tennis facilities. The property was purchased from Caesar’s Entertainment Corp.

“Plans to sell all or part of the property are underway,” according to Terence McCarthy of TJM Properties. The parcel consists of two hotels featuring 600 guestrooms and suites, a 45,000 s/f convention complex, an 800-acre Hunting Lodge, 200-unit RV park and club house, a 10,000 s/f kids’ center, an 18-hole golf course & clubhouse, a large commercial laundry facility, office and warehouse buildings, and hundreds of acres of farm land.

“We have a number of offers for all of the parcels of the property, and several parties expressed interest in purchasing the entire resort,” McCarthy said. “We are finalizing our plans on what we may keep and what we will sell and will be reviewing all these offers in the coming weeks.”

TJM Properties is a privately held Real Estate firm owned and operated by Terence J. McCarthy of St. Petersburg, Florida. The company owns a growing number of hotels in Florida, New Jersey, and Pennsylvania under the Quality Inn, Baymont Inn, Howard Johnson, and Radisson flags. TJM also owns The Claridge Hotel and Atlantic Club in Atlantic City, New Jersey. A leading developer of Senior Living Communities, TJM Properties sold 15 of its 19 Senior Living properties in 2013, comprising of 2500 units, for $220 million.