Peninsula Pacific buys DiamondJacks Casino

Peninsula Pacific is a Los Angeles investment group which announced the purchase of DiamondJacks Casino in Bossier City.

US.- Peninsula Pacific announced the purchase of DiamondJacks Casino in Bossier City, which had been owned by creditors since emerging from bankruptcy in 2013.

Faced with recovering little of the US$300 million owed if they liquidated Louisiana and Mississippi casinos, creditors decided to keep operating them.

Peninsula Pacific’s M. Brent Stevens, who is a savvy casino operator, said his company bought DiamondJacks’ debt late last year. Stevens added that he wants to improve operations and plans renovations. DiamondJacks typically collects the least revenue of six full-fledged casinos in northwest Louisiana.

It’s unclear if Peninsula Pacific will rebrand or cut employees. For example, Foundation Gaming bought the Vicksburg DiamondJacks last year and renamed it WaterView Casino and Hotel. Foundation is renovating and building a 700-seat events center.