DiamondJacks Bossier City Could Be for Sale
DiamondJacks Casino inwards Bossier City, La. appears to follow on course of study to be sold as regulatory deadline to reopen the locale nears.
The Louisiana Gaming Control Board (LGCB) recently extended to owner Peninsula Pacific Entertainment (P2E) 60 years to reopen the gaming locus or sell it and it looks similar the operator is opting for the latter choice. P2E permanently unsympathetic DiamondJacks during the ahead of time stages of the coronavirus pandemic, but later lobbied to make a motion its gaming license to Slidell from Bossier City.
P2E of late filed regulatory documents with LGCB to sell DiamondJacks to Mississippi-based Foundation Gaming — a regional gambling casino operator.
Collectively, we get reviewed inwards inordinateness of 400 opportunities, including greenfield developments and transactions involving existing properties. We make developed a go operation that takes a 360 level seem at apiece opportunity, from both the near-term and long-term perspectives, guiding us to select which opportunities to pursue,” according to Foundation.
Foundation currently operates the Fitz Casino and Hotel and the WaterView Casino and Hotel inward its place state. Neither Foundation nor P23 substantiate a possible dealing involving DiamondJacks on their corporate websites.
Foundation Bossier Bet
While it was believed a cassino inwards St. Tammany Parish would make supply modest benefit to the local economy, voters in that location rejected that effort, import Foundation testament hold to defend DiamondJacks’ Bossier City footprint.
It’s also clear up that there’s vehement competition inwards Bossier City from the likes of Caesars Entertainment’s Horseshoe, William Penn National Gaming’s Boomtown and Margaritaville, among others.
Additionally, assuming Foundation is approved to acquire DiamondJacks, the young owner will potential have to go down some hard currency into the venue because it’s worn down comparative to competitors in the market. Since it’s been closed, DiamondJacks has also become a criminal offence hub, underscoring the LGCB’s foiling with P2E dragging its heels on merchandising the property.
The Gaming Division of State Police and the Attorney General’s Gaming Division make to pass judgment Foundation’s financial perspective and power to control DiamondJacks, indicating it could live some clip before the locus reopens.
LGCB meets today and that could pop the treat of moving the cassino into Foundation’s hands.
P2E Still In Gaming Business
While it’s come out of Louisiana, for now at least, P2E relieve has a foothold inwards the gaming manufacture as it controls several regional casinos crossways the country.
The company runs the Hard John Rock Hotel & Casino in Sioux City, Iowa, Colonial Downs Racetrack in Virginia, del Lago Resort & Casino inwards upstate New York and fin Rosie’s Gaming Emporium locations in Virginia.
P2E is in camera held, but Standard & Poor’s estimates it generated $50 1000000 of earnings before interest, taxes, wear and tear and amortization (EBITDA) in the tertiary quarter of 2021 — a pace the ratings authority forecasts the manipulator will defend this year.
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