The Cordish Companies received unanimous support on Thursday from the Pelican State Gaming Control Board (LGCB) to win the gaming license antecedently used for the Diamond Jacks riverboat in Bossier City.
Cordish inward Apr in agreement(p) to purchase the shuttered riverboat and hotel from Mississippi-based Foundation Gaming. Foundation never operated the casino but had bought the boat from Peninsula Pacific Ocean Entertainment (P2E) after it failed to relocate the property’s LA gaming licence from Bossier City to Slidell for a proposed holiday resort that voters inwards St. Tammany Parish rejected.
P2E permanently shuttered Diamond Jacks amid the pandemic. The companionship said Bossier City has go oversaturated with gaming and rendered a much-needed investment funds in Diamond Jacks to wee-wee the riverboat to a greater extent competitory unwarranted.
Cordish feels otherwise and is willing to inject around $270 million into the business. The cost is in improver to the undisclosed sum total Cordish paid Foundation to gain the property. Cordish and Foundation are both privately held.
License Transfer Approved
The LGCB this calendar week found Cordish and its cay executives and stakeholders suited to receive a Louisiana gaming license.
The LA Gaming Control Board is proud of(p) to annunciate the approval of The Cordish Companies’ acquisition of the licence from the former Diamond Jacks belongings inwards Bossier City,” said Ronnie Johns, LGCB chair. “Cordish has an exceptional reputation inwards providing number 1 rank gambling casino experiences as intimately as hospitality and entertainment venues crosswise the country.”
Cordish operates Live!-branded casinos in its nursing home commonwealth of MD and Pennsylvania.
For its 1st gaming investment in Louisiana — called Live! Casino & Hotel Louisiana — Cordish plans to renovate and spread out the hotel into a 550-room facility with a holiday resort pool and physical fitness center. type A 25,000-square-foot multi-purpose event centre of attention is also inward the plans.
As for dining, Cordish plans to play several of its eating place concepts to Bossier City, including Sports & Social, PBR (Professional Bull Riders) Cowboy Bar, Luk Fu, and a to-be-named amercement dining steakhouse.
Cordish officials say the riverboat will live replaced past a unexampled land-based gambling casino measuring 47,000 straight feet featuring o'er 1,000 expansion slot machines and electronic tabularise games, positive 40 unrecorded tabularize games and a sportsbook.
“We’re grateful to the LA Gaming Control Board for their favorable reception and give thanks them for their considerateness and enthusiastic support through this process,” said Joe Weinberg, managing partner of The Cordish Companies. “Live! Casino & Hotel Louisiana will live a transformative evolution that will make for a first-class gaming, dining, entertainment, and hospitality experience, create significant new jobs, and bring forth millions of dollars inwards economic benefits for the community.”
Eyesore Soon No More
With Cordish’s acquisition of Diamond Jacks official, work on will shortly start on the casino’s next chapter. Cordish plans to unresolved Live! Pelican State inward 2025.
That’s welcomed tidings to country residents who experience watched the vacant riverboat proceed to fall into farther despair. Last year, metropolis inspectors said the property’s structure was chop-chop deteriorating inwards the LA heat and the property’s HVAC and plumbing system systems would non clear inspection.
Johns called Cordish’s acquisition a best-case scenario.
The report of The Cordish Companies throughout the country to own and run first-class casinos, restaurants, hotels, and amusement destinations is exemplary,” Johns said inwards Apr after Cordish revealed its Bossier City intentions.
To Casino.org’s knowledge, Cordish has never rebuilt a former casino but instead has only if opened new gaming facilities. Three of its quatern casinos were from-the-ground-up builds, with the lone exception being Cordish’s Live! Casino Pittsburgh, a so-called “mini-casino” inwards Western PA that opened indoors a former Bon-Ton section stack away at the Westmoreland Mall.
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