Sale of Louisiana’s DiamondJack Casino gets green light

Construction could begin in early 2023.
Construction could begin in early 2023.

Foundation Gaming will buy the shuttered DiamondJacks Casino in Bossier City.

US.- The Louisiana Gaming Commission has approved Pacific Peninsula Entertainment’s sale of the former DiamondJacks Casino to Foundation Gaming. The new owner proposes a $200m revamp before reopening the riverboat casino on land. The venue closed during the pandemic.

“This is a day we’ve been waiting for a long time,” said Gaming Commission chairman Ronnie Johns. “Foundation has an impressive plan.”

Foundation plans to build the first land-based casino in northwest Louisiana with an aim to reopen by December 2024. It will choose a new name for the property. The project will include a 47.000 square foot casino, a 405-room hotel and at least three restaurants. There will be a pool, spa and other features.   

Greg Guida, Foundation’s co-chief executive officer, said: “We’ve put together what we believe will be a great project for the market and for the community.”

Les McMackin, Foundations chief operations and marketing operator, said: “That’ll include the sports wagering, the live entertainment events centre that will have a capacity of around 300 seats, we’ll have a VIP lounge, we’ll have over a thousand slots, fifty tables, both electronic and live.”  

DiamondJacks in Bossier City has been shut since May 2020. P2E laid off 349 employees and held a liquidation sale after announcing that it wouldn’t reopen the casino after pandemic restrictions were lifted. The property was the first casino to open in northwest Louisiana in 1994.

P2E made a bid to relocate its licence, arguing that the Shreveport area casino market was oversaturated. However, in December, voters in Louisiana’s St Tammany Parish rejected a referendum that would have allowed that.

P2E originally had until February 9 to resume gaming operations at the Bossier City property or relinquish its licence, but it asked for and received an extension. In May, Foundation Gaming, a Mississippi-based company that buys and refurbishes distressed casino properties, agreed to acquire the venue.

See also: Louisiana sportsbooks hit record handle in October

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