DiamondJacks Casino’s owners basically informed state gaming regulators on Thursday that they don’t want Bossier City if they can’t have Slidell.
The Louisiana Gaming Control Board responded fine, sell the license in 60 days or have it taken away, clearly frustrated by P2E executives who had failed to persuade St. Tammany Parish voters to allow them to build a resort on Lake Pontchartrain to house their casino that they would have moved from Bossier City to Slidell.
Diamondjacks was Going to Restore Bossier City
“Today, we stand here and nothing has been done. The site hasn’t changed a blade of grass,” said Louisiana Gaming Control Board Chair Ronnie Johns, noting that DiamondJacks’ owners had vowed to restore the Bossier City casino, which closed in March 2020, if the St. Tammany vote failed, as it did in December.
After the meeting, Johns stated that the decision was based on how long it would take to get the license for DiamondJacks Casino Bossier City back into operation.
What Will Happen With the Licenses?
Taking the license away from the corporation would start a five-year process for the state to complete, including all requisite bids and background checks. Louisiana issues 15 gaming licenses to parishes that have decided to participate. Once the license is granted, the new owner will need further time to finish the facility’s development and open its doors.
The entire procedure might be finished in around two years if the license is sold to another entity.
DiamondJacks is owned by Peninsula Pacific Entertainment, a Richmond, Virginia-based firm. Officials from the company began confidential discussions with Foundation Gaming Group of Robinsonville, Mississippi, roughly two weeks ago.
The Tunica and Vicksburg casinos are owned by the Foundation. According to Johns, the firm acquires and renovates troubled buildings.
P2E CEO Brent Stevens and other top executives boycotted a session before the nine-member Gaming Control Board to discuss preparations to reopen their Bossier City casino. Instead, the business dispatched Peter Connick, a New Orleans lawyer, and Robert Smith, who is in charge of the abandoned property overlooking the Red River and with its own Interstate 20 exit.
The proprietors of P2E had sought to relocate their license from northwest Louisiana to land near Slidell on Lake Pontchartrain, where they planned to develop a $325 million casino complex known as Camellia Bay. However, when St. Tammany Parish voters rejected casino gaming in December, P2E was forced to reopen its facilities in Bossier City.
P2E officials, according to Connick, had “conceptualized” what it would take to rebuild the Bossier City site if the St. Tammany vote went against them.
“The company judged that the choices studied were not feasible business operations for the firm after the referendum failed,” he added.
What is Wrong with the Casino?
The vessel on which the casino is located is out of compliance, according to Smith, and its certification has expired. Before an inspector can be brought on board, the air conditioning and plumbing must be repaired. The majority of the hotel and restaurant’s equipment and furnishings have been sold and will need to be replaced.
Commissioner Harry Avant of Shreveport remarked;
“The facility has come to the point where it’s not marketable.”
City authorities are concerned about the state of the near-abandoned facilities, which have been visited by police 122 times in the last year. While the board’s first responsibility is to protect Louisiana taxpayers, Johns said that;
“We also have a commitment to the city of Bossier City to safeguard that property.” “It’s possible that that property will be unoccupied for a long time.”
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