The Cordish Companies Wednesday announced an agreement for the acquisition of Diamond Jacks Casino & Hotel in Bossier City, Louisiana, from Foundation Gaming & Entertainment. According to the Bossier Press-Tribune, the Louisiana Gaming Commission approved a request from Foundation to move forward with the sale April 4 at a special meeting.
Cordish will redevelop the property, closed since March 2020, as a Live! casino resort and entertainment destination. The existing casino riverboat will be replaced with a land-based casino.
“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,” said Cordish Companies Managing Partner Joe Weinberg in a statement. “We are committed to creating a world-class resort destination that brings first-class gaming, dining, entertainment and hospitality amenities to the region, creates significant new jobs, and generates millions of dollars in economic benefits for the community.”
According to the Bossier Press-Tribune, Diamond Jacks was permanently closed during the onset of COVID-19 pandemic by its previous owner, Peninsula Pacific Entertainment. Peninsula Pacific Entertainment was acquired by Churchill Downs Incorporated in November 2022.
After the sale, Foundation Gaming’s properties remain Fitz Casino Hotel in Tunica, Mississippi, and WaterView Casino & Hotel in Vicksburg, Mississippi.
“We are thrilled to announce our agreement with The Cordish Companies and believe that the introduction of their Live! brand in the market will have a tremendous impact on the entire northwest Louisiana Region,” said Foundation Gaming & Entertainment Co-CEO Greg Guida. “We are confident they will deliver a great product for the market, and we look forward to working with them to bring the project to fruition.”
The agreement is part of Cordish’s expansion into the southeastern and south central markets in the United States. Cordish is currently investing $1 billion in construction adjacent to its Texas Live! development in the Arlington Entertainment District in North Texas, and also has new developments in Florida, Alabama, Georgia, North Carolina and Tennessee.
“Our Live! casino resort and entertainment destinations around the country have set a gold standard for best-in-class operations and customer experiences,” said Cordish Gaming Group President Rob Norton. “The success of Texas Live! in the Dallas-Fort Worth region gives us great confidence to continue growing our Live! brand across the South Central region. We look forward to working with Foundation Gaming & Entertainment to bring a new standard in quality and excellence to Bossier City with the first land-based casino in the market.”
