Penn Entertainment to invest $195m to move Boomtown New Orleans onshore
The company plans to relocate and rebrand its riverboat casino as Hollywood Casino New Orleans.
U.S.- Penn Entertainment plans to invest $ 195 m to relocate its Boomtown Casino and Hotel New Orleans from its current riverboat operation to a new land-based property. The new New Orleans property will be built near the existing casino and will operate under the Hollywood Casino New Orleans brand. Regulatory approval is still required.
The project is part of Penn’s broader strategy of moving riverboat casinos onshore following changes to Louisiana’s gaming laws. The company has already completed similar relocations, including Hollywood Casino Aurora and Hollywood Casino Joliet in Illinois, while Hollywood Casino Council Bluffs in Iowa is scheduled to open in 2028.
“This investment reflects our disciplined approach to capital allocation, prioritising organic growth opportunities that build on our operational strengths and are expected to deliver compelling returns,” said Jay Snowden, president and CEO of Penn Entertainment. The casino and entertainment complex is expected to cover approximately 140,000 square feet and could open in 2029.
Snowden said the project will initially be financed through the company’s existing cash resources, although Penn could consider additional sources of liquidity.
