April continues to roll on with plenty of casino industry news. Each week seems to have a growing number of real money casinos expanding, purchasing or undergoing construction.
This week, we have a pair of acquisitions, multiple expansions, a new project getting underway, and the relaunch of a well-known online casino.
Cordish to Acquire Diamond Jacks Casino in Louisiana
The Cordish Companies announced recently announced an agreement to acquire the Diamond Jack Casino & Hotel in Bossier City, Louisiana. Cordish plans to develop the shuttered property into a world-class destination with a land-based casino to replace the existing riverboat property.
Cordish Companies managing partner Joe Weinberg spoke about the acquisition:
“It is incredibly exciting for The Cordish Companies to make this announcement today and to be working with Foundation Gaming & Entertainment on this new opportunity in Bossier City to bring our Live! brand to Louisiana for the first time.”
The Louisiana Gaming Commission gave the green light for the sale to move forward last week. However, Cordish still needs to clear a suitability investigation by the State Police and Attorney General before the regulator can give the approval to transfer the state gaming license to the buyer.
Cordish promised to provide the details of its plan for the Bossier City casino during the Louisiana Gaming Commission’s next meeting on April 17th.
Diamond Jacks has been closed since the spring of 2020 and was a casualty of what previous owner Peninsula Pacific Entertainment labeled as the “unexpected impact” of the COVID-19 pandemic.
The property was the first casino to open in the Shreveport-Bossier market, opening business at the Isle of Capri in 1994. Peninsula never intended to reopen the Bossier City casino as it used its casino license to pursue a $325 million resort project at St. Tammany Parish near Slidell. However, voters rejected the proposal.
The Cordish Companies announces agreement for acquisition of Diamond Jacks Casino https://t.co/GJxF8c0h9M
— Gaming America (@_GamingAmerica) April 5, 2023
Century Casino Completes Acquisition of Nugget Casino Resort
Century Casinos recently announced that it has completed the acquisition of the operations of the Nugget Casino Resort from Marnell Gaming for $100 million.
Before the acquisition, Century also purchased 50% of Smooth Bourbon LLC from Marnell Gaming. Smooth Bourbon is the owner of the land and building where Nugget Casino is located.
The Nugget and Smooth Bourbon have a $15 million per year lease agreement. After last week’s acquisition, Smooth Bourbon will become a consolidated subsidiary of Century Casinos.
Century Casinos Co-Chief Executive Officers Erwin Haitzmann and Peter Hoetzinger remarked:
“We are very excited to be expanding into Nevada. The Nugget is a great addition to our portfolio. We have plans to update the façade, signage, slot floor, and food and beverage venues of the Nugget. We look forward to working with the staff and community to continue the current success at this property into the future.”
Nugget Casino, at 1100 Nugget Ave. in Sparks, Nevada, is approximately three miles from Reno Tahoe International Airport. It has 71,200 square feet of casino space, 892 slot machines, and 29 table games.
The property also has two hotel towers, 114,500 square feet of convention space, an 8,555-seat outdoor amphitheater, a wide variety of casual and fine dining options, on-site bars and lounges, and a five-story 1,200-space parking garage.
Nebraska’s Grand Island Casino Looking to Add Table Games to Temporary Casino
Nebraska’s Grand Island Casino is planning to add to its offering. Currently, guests have only been able to play real money slots at the temporary Fonner Park casino, but according to a report from The Grand Island Independent, management wants to add table games like craps, roulette, and blackjack to its existing operations.
Grand Island Casino Fonner Park general manager Vincent Fiala said that the casino’s planned expansion also includes more slot machines, restrooms on the casino’s floor, an expanded dining area, and a space for entertainment during weekends.
The planned changes will allow guests to “have as much of a resort experience as they can in the temporary facility”.
The Nebraska Racing and Gaming Commission will tackle Grand Island’s expansion proposal during its April 14 meeting in Columbus. If the Commission approves the plan, the table games will likely be up by July with the actual timeline depending on how long the construction takes and how long it takes to train dealers.
As of the end of February, the temporary Grand Island Casino in Fonner Park has generated over $1 million in gaming taxes in just more than two months of operations and while operating only with slot machines.
In comparison, WarHorse Casino in Lincoln, which has been open since September 2022, has produced $4.4 million in gaming taxes.
Jamul Casino Secures $515 M Financing for Hotel Expansion
The Jamul Indian Village Development Corporation (JIVDC) closed $515 million worth of senior secured credit facilities with a syndicate of commercial lenders led by KeyBanc Capital Markets Inc. The loan will be used to refinance existing debts and finance hotel expansion.
JIVDC is currently remodeling the existing Jamul Casino to construct a new 16-story hotel with 200 rooms, including 52 suites. The hotel is expected to feature a rooftop pool and hot tub, restaurant, lobby bar, fitness center, spa and salon, and banquet room. It also includes a 25,500-square-foot event center.
In a statement, Jamul Indian Village of California chairwoman Erica M. Pinto:
“We are thankful for the partnership with KeyBanc and appreciate their approach, flexibility, and collaboration. The terms of this transaction will allow us to focus on our long-term financial stability and new projects that will continue to provide benefits for the Tribe.”
Jamul Casino in Jamul, San Diego County, California, is owned by JIVDC, which is a wholly-owned enterprise of the Tribe.
The $430 million casino opened in 2016 and features more than 1,700 slot machines, 46 table casino games, a dedicated poker room, and various restaurants, bars, and lounges. The casino also employs 1,200 permanent workers.
Second Diamond Casino Breaks Ground
Construction has begun on the Desert Diamond Casino West Valley property. The project broke ground last Thursday at the site located near Loop 303 and Northern Parkway near West Glendale.
Led by the Tohono O’odham Gaming Enterprise, and designed by JCA Architecture, the project will take around 19 months to complete with its opening expected sometime near the end of 2024.
Ted Norris, Chairman of the Tohono O’odham Nation, made the following statement:
“This is a special day for all Tohono O’odham. We are making good on our promise to provide for future generations of our tribal citizens. This groundbreaking serves as an important milestone to celebrate our progress as a Nation.”
The $450 million project will be divided into phases, with the first phase including a 184,000 square foot casino floor with 900 slot machines, 30 table games including blackjack, craps, roulette, and baccarat, a 12-table poker room, a sportsbook, a fine dining restaurant, a casual restaurant, and a four-venue food hall.
Succeeding phases of the project will include the construction of a hotel, a conference center, an outdoor pool, an amphitheater, event lawn space, and other recreational amenities.
The construction process will create 5,500 temporary jobs in the local area while the completed casino will employ 1,300 permanent workers.
Caesars Relaunches Tropicana Online Casino in New Jersey
Meanwhile, Caesars Entertainment announced the relaunch of Tropicana Online Casino in New Jersey last Wednesday. Tropicana is owned and operated by Caesars Interactive Entertainment Inc., a subsidiary of Caesars which was founded in 2009.
The move is basically the rebranding of CaesarsCasino.com which was announced almost one year ago. It began with the merger of CaesarsCasino.com and Caesars Sportsbook NJ last March 28th. In preparation for the merger, CaesarsCasino.com switched platforms in June of last year.
Matthew Sunderland, Senior Vice President of iGaming at Caesars Digital, commented on the relaunch:
“Caesars has a legacy in New Jersey with a history of providing a best-in-class gaming experience. The relaunch of Tropicana Online Casino is an important step in our progression toward providing valued customers with the best iGaming products in the industry. We’re confident this new offering delivers an elevated online casino experience with rewards that can’t be matched, similar to the industry-best experiences customers enjoy at Tropicana Atlantic City.”
Tropicana Online Casino is now available for download via Android or iOS app. It can also be accessed via desktop using TropicanaCasino.com. Per Caesars, New Jersey customers can expect a wide variety of casino games at the relaunched online casino.
These include American and European Roulette, Live Dealer Blackjack, Poker and Baccarat, video poker, and the top slot titles from the best-in-class providers.
