Plans for a new casino in Louisiana have taken a step backward. Peninsula Pacific Entertainment (PPE) originally acquired a Louisiana casino license in 2016 and purchased the DiamondJacks Casino in Bossier City. Now, PPE has been ordered to sell its casino license due to not operating a casino in the Bayou State.
Louisiana gaming regulators have been patient with PPE regarding its casino plans. However, the LGCB now feels it has an “obligation” to Bossier City to reopen the now vacant casino. PPE does not appear interested in renovating and reopening the casino. As a result, the LGCB will move forward with finding a new owner for the property.
PPE’s Original Plans for a Louisiana Casino
Peninsula Pacific Entertainment is based out of Virginia and planned to expand into Louisiana with the purchase of the DiamondJacks Casino. PPE also acquired a Louisiana casino license when they bought the Bossier City casino. However, PPE did not plan on keeping the casino in its current location.
PPE attempted to move the casino approximately 300 miles southeast to Slidell. Officials from PPE cited concerns of a crowded market at the current location as the reason for the move. Unfortunately for the gaming company, locals in Slidell voted to reject plans for the new casino.
The current location has been closed since March 2020. PPE has allowed the property to fall into disrepair and lose its certification. Given the lack of progress, the LGCB has given PPE until April 18th to sell the license. If they do not find a buyer by the deadline, PPE will lose its license without any compensation.
Why is the LGCB is Forcing PPE to Sell its Casino License?
Louisiana gaming regulators‘ decision to force PPE to sell its license was years in the making. With the relocation plans falling through, the LGCB wants the original DiamondJacks Casino location reopened. After being closed for nearly two years, the cost of reopening the vacant casino will be in the millions of dollars.
The vacant building has also become the target of vandals since closing. In last year, local police have responded to more than 100 calls regarding the property. Once a new owner is in place, the LGCB is hoping to have the casino reopened in roughly two years.
Bettors hoping for a new casino in Louisiana will have to wait longer than expected. Peninsula Pacific Entertainment, which had planned to build a new casino in the Bayou State, is being forced to sell its casino license. The Louisiana Gaming Control board has given PPE until April 18th to find a buyer.
As a result, the LGCB has decided to force PPE to find a new gaming developer to take over its license. State regulators are hopeful that the location can be reopened in the next two years. To do so, the new licensees will need to address structural material issues to get the vacant casino up and running.