The Cordish Companies is planning to take the Live! brand into Louisiana for the first time after rolling-out an agreement to acquire Diamond Jacks Casino & Hotel.
The Bossier City located property has been closed since March of 2022, however, the gaming and entertainment operator intended to replace the riverboat casino via the construction of a “world-class” resort destination.
The proposed project is subject to approval by the Louisiana Gaming Control Board, with additional details to be shared in the coming months.
“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,” stated Joe Weinberg, Managing Partner of The Cordish Companies.
“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.”
Foundation Gaming & Entertainment, the selling party, only purchased the property itself in December 2022 from Peninsula Pacific, stressing that the acquisition “plays to our strengths of reviving existing properties”.
Detailing the offload a little over three months later Greg Guida, Co-CEO of Foundation Gaming, said: “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.
“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.”
This would mark what is hailed as a “major expansion” across markets in the south central and southeast regions of the US for Cordish, which currently boasts an array of investment in the area.
The Company currently has over $1bn under construction adjacent to its Texas Live! development in the Arlington Entertainment District in North Texas, along with 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,” commented Rob Norton, President of Cordish Gaming Group.
“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.”
In addition, the group has also detailed an intention to support local community and non-profit organisations through an array of activations, should the purchase receive all necessary approval.
“The Cordish Companies is one of the leading developers and operators of high profile mixed-use, entertainment and casino resort destinations in the country,” added Thomas Chandler, Mayor of Bossier City, LA.
“This project will not only attract millions of visitors to our city annually, it will also create substantial new jobs and generate additional significant tax revenue for our community.
“We look forward to working closely together with Cordish and Foundation Gaming & Entertainment to bring a world-class destination to Bossier City.”
