The Cordish Companies announced a deal to acquire Diamond Jacks Casino & Hotel in Bossier City, Louisiana.
Cordish intends to redevelop the property, which has been closed since March 2020, into a Live! casino-resort, including constructing a land-based casino to replace the existing casino riverboat.
The Louisiana development adds to a busy year for the company. Cordish currently has ongoing projects in Florida, Alabama, Georgia, North Carolina, and Tennessee.
“It is exciting for The Cordish Companies to make this announcement today and work 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.”
“We are thrilled to announce our agreement with The Cordish Companies and believe that the introduction of their Live! Brand in the market will tremendously impact the entire northwest Louisiana Region,” stated Greg Guida, Co-CEO of Foundation Gaming & Entertainment, LLC. “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.”
Cordish also has casinos in states such as Maryland and Pennsylvania. The proposed Pelican State project is subject to approval by the Louisiana Gaming Control Board.
“The Cordish Companies is one of the leading developers and operators of high profile mixed-use, entertainment and casino resort destinations in the country,” said 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.”