Penn National acquires Louisiana casino

Margaritaville Resort Casino Bossier City will be acquired by Penn National Gaming and VICI Properties.

US.- The current owner and operator of Margaritaville Resort Casino, Bossier Casino Venture, announced on Tuesday that it has entered into a definitive agreement under which Penn National will acquire the operations and VICI Properties will acquire the real estate of Margaritaville Resort Casino.

The all-cash transaction in which Penn National and VICI will acquire the casino has been valued at US$376 million. The casino has achieved significant market share growth in the last few months.

Paul R. Alanis, Chief Executive Officer of Bossier Casino Venture, commented: “I am pleased to have entered into this agreement with Penn National Gaming and VICI Properties. I am confident that Penn National Gaming will continue the quality operations that have characterized Margaritaville Resort Casino these past five years and will provide new opportunities for our crew members as well as an exciting gaming and entertainment experience for our valued customers.”

Barry Regula, Senior Vice President and General Manager of Margaritaville Resort Casino further commented: “This is a tremendously positive outcome for our crew members, our guests and our community. Penn National Gaming offers outstanding opportunities for employees, a geographically diverse network of destination casinos for our guests, and a solid platform for potential future development to enhance the economic benefits to the community. I’d like to thank our over 1,050 amazing crew members for their daily dedication to providing memorable experiences for our guests. It is because of their efforts that we have achieved the success that has attracted a quality gaming company, such as Penn National Gaming, as an acquirer.”