Cordish Companies unveils plans for new Live! Casino & Hotel in Louisiana
The company plans to construct a new land-based Live! Casino to replace the existing riverboat venue in Bossier City.
US.- The Cordish Companies has presented its plans to replace Diamond Jacks Casino & Hotel in Bossier City, Louisiana, to the Louisiana Gaming Control Board. The company plans to construct a new, land-based Live! Casino to replace the riverboat. The project is expected to cost over $250m and to open in 2025.
The new casino will offer more than 47,000 square feet of gaming space with more than 1,000 slots and electronic table games and more than 30 live-action table games. It will also offer a 400-room resort-style hotel, a 25,000-square-foot, multi-purpose event center, and 30,000 square feet of dining and entertainment venues, to include Sports & Social and PBR Cowboy Bar.
Earlier this month, the Cordish Companies announced an agreement to acquire Diamond Jacks Casino & Hotel, which has been closed since March 2020. The development of the new Live! Casino & Hotel will continue Cordish’s expansion in the South Central and Southeast regions of the US, where it is already building adjacent to its Texas Live! development in the Arlington Entertainment District in North Texas.
Joe Weinberg, managing partner of The Cordish Companies, said: “We’re very excited and honored to present our plans to the Louisiana Gaming Control Board and thank them for their enthusiastic support of our project. Live! Casino & Hotel Louisiana will be a world-class resort destination that brings a first-class gaming, dining, entertainment and hospitality experience to the region, creates significant new jobs, and generates millions of dollars in economic benefits for the community. We look forward to working with Foundation Gaming & Entertainment, state and local officials, and the community to bring the project to fruition.”
Greg Guida, Co-CEO of Foundation Gaming & Entertainment, added: “The development plan for the Diamond Jacks property that was presented this morning will be transformative, and we are thrilled to be a part of it. We are looking forward to finishing up the demolition that was started in February to get the property ready for the transformation to a Live! Casino & Hotel.”
Ronnie Johns, chairman of the Louisiana Gaming Control Board, added: “The Louisiana Gaming Control Board looks forward to working with The Cordish Companies to bring a world-class casino and entertainment destination to the Bossier/Shreveport market. The reputation of The Cordish Companies throughout the country to own and operate first-class casinos, restaurants, hotels, and entertainment destinations is exemplary.
“We thank Cordish for choosing Louisiana to bring their expertise and major investment to our gaming market. The Board also wants to thank Foundation Gaming for their vision in beginning this much needed process of rebuilding a closed casino property. We will be working closely with both Foundation and Cordish to make this project a reality as soon as possible to deliver a gaming and entertainment destination that Louisiana can be proud of.”
Mayor of Bossier City Thomas Chandler commented: “We are very excited to welcome The Cordish Companies team to Bossier City and look forward to working with them on this beautiful project. Live! Casino and Hotel Louisiana will attract millions of visitors to our city, create substantial new jobs, and generate additional significant tax revenue for our community. It’s a life changer for our region.”
Louisiana sports betting handle slips in February
Louisiana’s sports betting handle was $197.6m in February, according to the Louisiana Gaming Control Board (LGCB). The handle was down 30 per cent compared to January and also down year-on-year. The state’s sportsbooks reported $19.3m in revenue, down from January’s $27.9m.
Retail sportsbooks registered $22m in bets and $1.5m in revenue, while online sports betting took $211m in bets and $17.8m in revenue. Revenue from online wagering was up 6.7 per cent from $16.7m in the same month last year, but 19.1 per cent behind $22m in January 2023. Retail revenue was 131.8 per cent higher year-on-year but 75 per cent less than the $6m generated in January.
