Kordish launches a $270 million live project! Louisiana casino hotel
Published on: November 30, 2023, at 12:39 pm.
Last updated on: 29 November 2023 at 04:46 h.
Cordish Enterprises will go live! Louisiana Casino and Hotel on December 13 at 11:00 AM local time.
Cordish embarks on its third trading game through Louisiana. Officials with Live! The casino operator says it will spend $270 million to redevelop the former DiamondJacks Casino Resort in Bossier City, which it acquired from Foundation Gaming earlier this fall.
Cordish’s $270 million investment is in addition to the undisclosed acquisition price of DiamondJacks and its gaming license.
Cordish plans to build a new land-based casino and redevelop the existing 500-room hotel on the site. The project additionally includes 25,000 square feet of customizable event space and multiple dining and beverage venues.
says Cordish Casino.org That lives! Casino & Hotel Louisiana is expected to generate more than $35 million in gaming taxes for Bossier City and more than $168 million in gaming taxes for the state during its first five years of operation. The resort is expected to employ 750 permanent jobs and provide contracting opportunities for local businesses, minorities, women-owned businesses and veterans.
Cordish Chairman David Cordish and Rob Norton, Chairman of Cordish Games Group and Live! Casinos, will be available on December 13 for the groundbreaking ceremony. The company plans to open its resort destination in Louisiana in early 2025.
The first land-based casino on the market
In 2018, Louisiana lawmakers amended the state’s gaming law to allow riverboats to move inland as long as they stay within 1,200 feet of their original barges. The casino’s modification came after Hurricane Katrina in 2005, and several other powerful hurricanes and tropical storms that caused significant damage to riverboats, with some vessels even being picked up and beached by weather events.
Before the 2018 change, Harrah’s New Orleans Casino was the only land-based casino in Louisiana. The redeveloped Queen of Baton Rouge Casino opened as its second land-based casino earlier this year after a $200 million overhaul.
Cordish is set to bring the first brick-and-mortar casino to the Shreveport/Bossier City market. He lives! Casino & Hotel Louisiana will be built directly off U.S. Highway 71 and Interstate 20, approximately 20 miles from the Texas border and 40 miles from the Arkansas border.
Cordish-themed gaming portfolio Live! Maryland Casino and Hotel in Anne Arundel County near Baltimore Washington International Airport. Kordish also runs Live! The Philadelphia Casino and Hotel in the city’s Stadium District, and a so-called “mini-casino” in the Pittsburgh suburb of Westmoreland called Live! Pittsburgh Casino.
Diamond Jacks Saga
DiamondJacks has closed amid the COVID-19 pandemic. Then-owner Peninsula Pacific Entertainment (P2E) decided to permanently close the old riverboat in favor of moving the Louisiana gaming franchise to a more attractive market.
P2E offered residents of St. Tammany Parish built a $325 million casino resort in Slidell, but voters there rejected the project during a local referendum in December 2021. P2E later decided to sell DiamondJacks to Foundation, a Mississippi gaming company, which in turn sold it to Cordish.
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