Casino developers are currently discussing a future $250 million project for casino and resort in Louisiana.
Part of the discussion is the location of the project. The company holding the license expressed interest in moving it from the northeast to the southeast part of the state.
The company in mind is the Los Angeles-based Peninsula Pacific Entertainment, also known as P2E. According to the Times-Picayune/The New Orleans Advocate, the company has started discussion with officials in St. Tammany Parish about the project.
The road to the $250 million casino and resort has not been easy. The project faced multiple legal hurdles.
The first one is a 90s referendum, which the voters in St. Tammany would have to undo. In 1996 they rejected a possibility for casinos and video poker. The Legislation would have to vote to change the current law and to put such a measure on the ballot.
The project would also have to wait for the State Gaming Control Board’s permission.
Peninsula Pacific was founded in 1999 by M Brent Steves. The original idea was for it to be only a holding company of Peninsula Gaming, also led by Stevens, which was sold in 2012 for $1.45 billion.
P2E currently holds the license for the Diamond Jack riverboat casino in Bossier City and according to some sources it wants to move to a more profitable location, which is the Luisiana area.
The future site for the casino project would be near Slidell on the waterfront site. According to the proposal, the Luisiana casino and resort would include a hotel with 250 rooms and would cover about 50 acres.
While the Luisiana project is only currently in a discussion phase, another one recently opened doors. The new Live! Casino & Hotel in Philadelphia opened in January for exclusive members only. The official opening for the public is scheduled for February 11.
The new facility is situated just 6 miles from Brooklawn Shopping Center. It is the latest achievement of the Live! Brand, which is worth $700 Million. Its location is next to Stadium Holiday Inn., which was especially demolished for the purposes of the new casino.
Live! Casino & Hotel Philadelphia was developed by a private company led by Cordish, which is also the owner of Xfinity Live complex.
As part of the license approval process, the brand promised to open job opportunities for many people. The current jobs available are 2,000. The new facility is supposed to benefit the city by bringing $2 billion in economic stimulus.
The Casino represents a 510,000-square-foot property with gaming hall, hotel, dining and entertainment. It has 208 rooms in the hotel part and thousands of slot machines and over 100 table games in the casino part.
Source: “Casino developers discussing $250 million Louisiana project”, Sun Herald, February 3, 2021