After months of delays and a final ultimatum to work out the details of a possible sale or give up its license, a deal is in the works for the sale of the DiamondJacks Casino in Bossier City to a Mississippi-based company that buys and refurbishes distressed casino properties.

According to Louisiana Gaming Control Board Chairman Ronnie Johns, Peninsula Pacific Entertainment (P2E) has filed a petition with the board for a buy-sell agreement with Foundation Gaming.

This, Johns says, brings P2E into compliance with what the board mandated two months ago. The Los Angeles-based company had until the board’s April 18 meeting to work out a possible sale.