Universal Music Group (UMG) has announced plans to enter the hotel and casino market with a $1.2 billion development for a new location in Biloxi, Mississippi.

The new 266-acre property will target the old Broadwater resort, which is expected to be one of three hotel developments by UMG. The new Biloxi establishment will provide direct competition for the Hard Rock Casino.

UMG also chose Atlanta, Biloxi and Orlando as the locations for their new foray into the hospitality and casino business. The UMG includes companies such as Capitol Records, Def Jam recordings and Abbey Road Studios in its stable. The hotels and casinos will be themed to reflect the company’s connection to its entertainment heritage.

Biloxi Mayor Andrew Gilich was delighted with the opportunities that the new hotel and casino will bring to the local community: