Just a little two years after it opened, Biloxi's Margaritaville Casino & Restaurant will close on or before Sept. 19.

The company made the announcement Monday.

The facility was owned by Jimmy Buffett and other investors.

Margaritaville says it will pay employees up to Sept. 19. The company reported 359 employees to the Mississippi Gaming Commission at the end of March.

Managers of the casino say it couldn't overcome an out-of-the-way location and lack of a hotel.  The 68,000 square foot facility was located on Biloxi's "Back Bay."

Owners had planned to add $64 million to build a hotel and overhaul the rest of the casino, but instead have decided to close. Managers say current owners seek to sell the property, and new owners could reopen it.

The casino, which opened in May 2012, is the newest of 12 along Mississippi's Gulf Coast.

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