Isle of Capri may relocate ashore

The riverboat casino could take advantage of a law passed this year and relocate its business ashore.

US.- Eldorado Resorts, the owner of Isle of Capri, is considering replacing the riverboat casino with an onshore facility. The Louisiana business may move ashore due to a new state law that was passed this year.

The move comes after a law that was passed earlier this year, which allow riverboats to move onshore. The revenue from the casino is currently divided among a number of different cities. If it gets relocated, it would not affect the amount of money other cities within the parish receive annually, but it would change the amount the parish receives since the casino would no longer be on “Parish land” and would be located within Westlake city limits.

Tom Reeg, President and Chief Financial Officer, said: “So, I would say it’s highly unlikely we will do anything in Baton Rouge based on our early analysis there. In Lake Charles, you should expect us to look to move forward there. I think the right range of a project there is still US$75 million to a US$100 million in spend and if we should, we would anticipate at least a 15% ROI on that investment.

“There is still work to do. We’re early stages in terms of design and what we would do and discussions with the state as to our plans and their approval of them. So, I would be thinking of maybe something we’re starting in the second half of next year that comes online in ’20.”