Louisiana gaming regulator greenlights casino merger

The Louisiana Gaming Board has approved the Bally’s and Queen Casino merger.

US.- The Louisiana Gaming Control Board has approved the merger between Bally’s Corporation and The Queen Casino & Entertainment. The move unites the Bally’s Shreveport Casino & Hotel, The Queen Baton Rouge, and the Belle of Baton Rouge properties under one entity.

The board also granted approval for new institutional investors as requested by Premier Entertainment Shreveport, which operates Bally’s Shreveport Casino & Hotel, along with Louisiana Casino Cruises (The Queen Baton Rouge) and Catfish Queen (Belle of Baton Rouge). The University of Chicago will hold a 5.84 per cent stake, Entrust Special Opportunities Master Fund Three LP 7.06 per cent and Entrust Global Partners LLC 12.9 per cent.

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The entities are passive investors with no management responsibilities, decision-making authority voting rights or operational control over Bally’s or its Louisiana licensees post-merger.