May 2, 2001 9:00 PM

Agents of the Mississippi State Gaming Commission arrested two craps dealers over the weekend in connection with a cheating ring that cost four Gulf Coast casinos an estimated $200,000.

Four dealers have been arrested so far as the investigation continues.

Still at large is a 34-year-old Memphis man, the alleged mastermind of the scam, who investigators say lavished heavy tips on the dealers in exchange for payoffs on losing bets at the craps tables.

Treasure Bay lost about $80,000, according to investigators. Palace Casino lost about $30,000. One of the dealers arrested worked at Grand Casino Gulfport. That casino's losses were not disclosed. The investigation is also focusing on a fourth casino, which has not been named.