$270M Live! Casino Hotel Louisiana Breaks Ground in Bossier City
Posted on: December 15, 2023, 12:34h.
Last updated on: December 14, 2023, 11:49h.
Construction on Live! Casino & Hotel Louisiana in Bossier City is officially underway.
The Cordish Companies on Wednesday celebrated the commencement of construction on the first land-based casino in the Shreveport-Bossier City market. Cordish acquired the shuttered Diamond Jacks riverboat and hotel this fall for an undisclosed price from Foundation Gaming.
The $270 million redevelopment will result in a new 47,000-square-foot brick-and-mortar casino with over 1,000 slots and 40 live dealer table games. The hotel will undergo a major renovation to result in an upscale 550-room property with a resort pool and fitness center.
Cordish is also building a 25,000-square-foot multipurpose events center and 30,000 square feet of dining venues. A parking garage is also in the plan.
Today marks an incredibly special day for my family and The Cordish Companies as we continue to expand our Live! brand in the southeast region of the country with the development of Live! Casino & Hotel Louisiana,” said Jon Cordish, principal of The Cordish Companies. “With the first land-based casino in the market, Live! Casino will be a transformative development that will bring a first-class gaming and entertainment experience to millions of visitors, create significant new jobs, and generate millions of dollars in economic benefits for the community for generations to come.”
Cordish operates Live! Casino & Hotel Maryland in Hanover, Live! Casino & Hotel Philadelphia, and Live! Casino Pittsburgh in the city suburb of Westmoreland.
Cordish First
In recent years, Cordish has emerged as one of the country’s most bullish gaming developers. The company opened both of its Pennsylvania casinos amid the COVID-19 pandemic, with Live! Pittsburgh opening in November 2020 and Live! Philadelphia in early 2021.
Cordish has been as active as any other major casino company in the aftermath of the coronavirus. The company has expressed interest in building commercial casinos in North Carolina, Virginia, and Texas. Though none of those states have led to gaming projects, Cordish found a new market to expand to by way of Louisiana.
The company’s redevelopment of Diamond Jacks also marks a first for Cordish, as the hospitality, gaming, and mixed-use real estate developer has never reconditioned a shuttered casino to give it new life.
Live! Casino & Hotel Louisiana is being built along the Red River directly across from Shreveport. The property is approximately 20 miles from the Texas border and 40 miles from Arkansas.
Cordish has already dismantled and removed the former Diamond Jacks riverboat casino.
Bossier City Resurgence
Diamond Jacks’ former owner, Peninsula Pacific Entertainment, unsuccessfully sought to relocate its Louisiana gaming license to a more favorable operating market. Ronnie Johns, chair of the Louisiana Gaming Commission, believes Cordish’s investment will help revitalize Bossier City.
There’s no doubt the gaming market in Shreveport-Bossier has a bright future,” Johns told USA Today this week. “To see this happening is incredible.”
The resort will create 750 permanent positions on annual salaries, wages, and tips of a projected $34 million, or about $45,333 per job. The per capita income in Bossier City in 2022, according to the US Census Bureau, was $30,737.
Cordish expects its first casino in Louisiana to open in early 2025.
Source: casino.org
