DiamondJacks Casino Sale Approved by Louisiana Gaming Commission

New owner Foundation Gaming hopes to reopen the casino by December 2024

by - Tuesday, December 20th, 2022 2:26

Approved

The Louisiana Gaming Commission has given the go-ahead for Pacific Peninsula Entertainment to sell the shuttered DiamondJacks Casino to Foundation Gaming. The new owner plans to invest $200 million in renovations before reopening the riverboat casino on land

Gaming Commission chairman Ronnie Johns said of the decision:

“This is a day we’ve been waiting for a long time. Foundation has an impressive plan.”

Foundation Gaming intends to construct the first land-based casino in northwest Louisiana, with the goal of reopening it by December 2024. The company plans to give it a new name and the property will feature a 47,000 square foot casino, a 405-room hotel, and at least three restaurants. The project will also include a pool, spa, and other amenities.

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, added:

“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 shut down in May 2020 and laid off 349 employees after announcing that it wouldn’t reopen after pandemic restrictions were lifted. The property was the first casino to open in northwest Louisiana in 1994.

Former owner P2E had previously attempted to relocate the license claiming that the local market was oversaturated. However, a local referendum put a stop to the plan.

The company then requested an extension to hold its license without reopening. It had been due to relinquish the license on February 9th 2023. This allowed the Foundation Gaming acquisition to go through.

Tom Nielsen

Gambling industry journalist with a background in online poker and trading. Covering the regulated U.S Sports industry and the exciting world of online poker.

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