The Isle of Capri Casino in Louisiana Should Open in Late 2022

Lake Charles Casino Louisiana

Louisiana is home to a large and successful casino industry. Many of these properties are located in the Lake Charles area and several have been damaged by recent hurricanes. That includes the Isle of Capri Casino in Louisiana, which has just pushed back its reopening date to the fall of 2022.

Many will be disappointed to hear this venue’s opening date is being pushed back again. The owners seem frustrated with the situation, as well.

Here’s what you need to know about this situation.

Gaming Board Gives Green Light for the Isle of Capri Casino in Louisiana to Reopen on Land

Louisiana’s casino industry is unlike many others around the country. Here, the vast majority of gambling venues are riverboat casinos. This goes back to old laws that required all casinos to be based off-land.

Of course, operating an expensive casino on the water comes with its share of problems. That is particularly true in Louisiana, an area known to attract hurricanes. Many of the gambling venues here have been damaged by these hurricanes over the past few years.

That includes the Isle of Capri Casino in Lake Charles. This property took serious damage back in August of 2020. To make things worse, the Covid-19 pandemic led to serious delays getting this venue operational again. Louisiana’s Gaming Control Board approved a measure to move this casino to land in 2019 and many have been left wondering when this move would take place. The current plan is for the venue to formally reopen to the public in the fall of 2022.

Interestingly, this property is set to be re-branded as the Horseshoe Casino Lake Charles. Isle of Capri Senior Vice President and General Manager Jeff Favre spoke about this move to the media this week.

“I’m excited to bring the iconic horseshoe brand to Lake Charles, it’s legendary,” he said. “We’re building approximately 110,000 square feet. Not all of that gaming of a little over 60,000 of that is gaming space. So approximately 1000 games between slot machines and table games.”  

We’ll offer more information on this move over the next few months.

Louisiana’s Sports Betting Industry is Set to Launch in September

The state of Louisiana is known for having one of the most passionate sporting fan bases in the United States. It’s here that popular teams such as the New Orleans Saints are located. Many have been pushing hard for sports gambling to become legal and regulated here.

Those individuals will be happy to hear that the first sportsbooks are expected to launch here in September. That coincides with the start of the 2021/2022 NFL season. Many analysts expect this season to be the most-bet-on football season in history.

The Louisiana Gaming Control Board recently approved an emergency measure to launch sportsbooks in September. Fifteen casinos around the state will soon have permission to apply for a sports betting license. At least eight have already done so.

Online sports betting will eventually become available in Louisiana, as well. These online betting platforms will almost certainly be more popular than the land-based sportsbooks in the state. It’s an exciting time for sports betting fans here.

There is a chance that the Isle of Capri Casino in Louisiana, soon to be named the Horseshoe Casino, will offer sportsbooks. Stay tuned for updates!

US Casino Revenue Continues to Surge

2020 was without a doubt the worst year in history for the US casino industry. Casinos across the country were shut down for months at a time. Fortunately, things have completely turned around and casino revenue continues to surge throughout 2021.

Louisiana is one state that continues to experience revenue gains. This past July, the casinos in Louisiana managed to bring in $222 million in total gross gaming revenue. The Golden Nugget in Lake Charles was the best-performing property in the state, bringing in $31.5 million.

Massachusetts is also home to a growing casino industry. Three casino-resorts are now operating here. Gross gaming revenue in the state came out to $95.7 million. The Encore Boston Harbor managed to bring in the most money at $59.7 million.

Places like Nevada and New Jersey continue seeing impressive revenue reports, too. The casino companies here are expecting to break an all-time revenue record in 2021.

Are you excited to hear about the reopening of the Isle of Capri Casino in Louisiana? Let us know in the comments section below.

The Isle of Capri Casino is Set for a Major Upgrade

Not long ago, Twin River Worldwide Holdings Inc. officially acquired the Isle of Capri Casino in Kansas City, Missouri. Company officials hinted they planned to add some new features to this struggling gaming venue. According to new reports, the Isle of Capri Casino is set for a $61 million upgrade soon.Isle Of Capri Casino

Twin River certainly sees the potential in the venue. Hope is that this company can turn this casino into a major tourist destination. Today, we’re going to look at what exactly Twin River has planned for this property.

Let’s get into it!

Eldorado Resorts Completes Acquisition of Caesars Entertainment

The merger between Eldorado Resorts and Caesars Entertainment first began back in June of 2019. It was huge news for the US casino industry. Eldorado agreed to pay $17.3 billion for the acquisition of Caesars, the most money ever paid for a casino company.

Once the merger was complete, this would become the largest casino operator in the United States. Obviously, gambling commissions around the United States began taking a close look at this deal. These commissions wanted to ensure that this new company would not result in a monopoly.

The FTC approved this merger back in June of this year. Eldorado and Caesars received the final approvals from three more gambling commissions last week. On Monday, news broke that this merger finally concluded.

Getting to this point wasn’t easy. Over the past 13 months, Eldorado and Caesars were forced to sell many of their biggest properties. That includes the Isle of Capri Casino in Kansas City, Missouri.

Twin River Worldwide Holdings Inc. purchased this venue in June of this year for $230 million. It was well-known that this venue was struggling and many had questions about how Twin River planned to turn things around. This week, the company’s plans became more clear.

Here’s what’s currently being planned.

Twin River Plans $61 Million Upgrade to the Isle of Capri Casino

Back in 1996, the Hilton Flamingo casino first opened its doors near the Missouri River in Kansas City. This venue struggled to generate players and in 2000, was sold to Isle of Capri Casinos. The casino started to see its revenue increase and in 2017, Eldorado Resorts announced it was purchasing this venue.

In order for Eldorado Resorts to merge with Caesars, the Missouri Gaming Commission required this company to sell the Isle of Capri. Twin River Worldwide Holdings Inc. revealed that it bought the venue in June for $230 million. Officials within Twin River have just revealed an exciting new upgrade to this property.

According to the development committee of the board that oversees the Port Authority of Kansas City (Port KC), Twin River wants to add several new additions to this venue. Jon Stephens, president and CEO of Port KC, spoke about these plans to the media this week.

“This is downtown’s casino, so to speak,” Stephens said. “And so if they’re willing to invest, we do think it helps to secure the long-term growth and availability of the greater riverfront.”

It’s clear from financial reports that the Isle of Capri Casino is one of the least financially-successful casinos in this area. Twin River plans to add a new restaurant, retail, spa, and amphitheater. The company is also considering adding a hotel to this venue.

Officials in Kansas City are excited to hear about these plans. The city profits when casinos are successful. How long will it take for revenue to begin increasing here, though?

US Casino Industry Continues to Struggle

It’s exciting news to hear that Twin River plans to upgrade the Isle of Capri Casino. Of course, it may be a long time before this company sees the profits from this move. The US land-based casino industry is still struggling right now and no one can accurately say when things will get back to normal.

Many casinos around the country have already reopened. Over in Las Vegas, nearly all of the casino-resorts on the Las Vegas Strip are now up and running. Unfortunately, tourism here continues to drop as rates of Covid-19 increase.

Atlantic City began allowing its casinos to reopen over the Fourth of July weekend. City officials hoped that, despite the intense safety measures set in place, visitors would still flock to this gaming destination. That does not appear to be the case.

More gambling revenue reports continue to come out. All states have seen their earnings plummet over the past few months. Most analysts predict this trend will continue throughout 2020.

Casino companies are doing everything they can to boost tourism. This is much easier said than done. We’ll need to wait and see how efforts to contain the new coronavirus in the country progress over the next few months.

Are you excited to see the Isle of Capri get this upgrade? Let us know in the comments section below!