Nothing of the sort. Buffett is so flush that he waived Margaritaville Biloxi’s licensing fees for its first two years of (truncated) operation. GGB News reports, "Attorney Michael Cavanaugh, representing the casino owners … noted [that] singer Jimmy Buffett does not share ownership but licenses the Margaritaville name." Similar arrangements free Buffett up to work with multiple casino companies.
In addition to the Resorts Atlantic City extension of Margaritaville, Buffett has also franchised the theme to Flamingo Las Vegas. As long as those two casinos remain in operation – and we know of no reason they won’t – it’ll always be five o’clock along the Boardwalk and the Las Vegas Strip.
The big difference between Resorts’ Margaritaville in Atlantic City and the Flamingo’s in Las Vegas is that the latter contains a casino, from which Buffett’s company, Margaritaville Holdings, derives revenue. This required Buffett to get approval for a Nevada gaming license in March 2012, which he received after only cursory interrogation (see Today's News 3/8/12). Operated by Caesars Entertainment personnel, the casino has 22 table games, 10 times that number of slots, and innumerable "Parrothead" patrons.
Entrepreneurs Paul Alanis and William Trotter also licensed the Margaritaville brand in 2011 to a riverboat casino in the Shreveport-Bossier City area of Louisiana. Again, Buffett franchised the Margaritaville name rather than take an ownership position. The casino was described as "an 18- to 20-story hotel tower, 1,000-seat entertainment complex with VIP balcony, a spa and outdoor tropical area visible from the Louisiana Boardwalk." So far, it has been a success, drawing off business from rival casinos in the crowded market.
