The Cordish Companies announces agreement for acquisition of Diamond Jacks Casino
The real estate development and entertainment company will bring its Live! Brand to Bossier, Lousiana.
The Cordish Companies has announced an agreement to acquire and redevelop Diamond Jacks Casino & Hotel. The Bossier, Louisiana property has been closed since March 2020.
Cordish’s plans for redevelopment include turning an existing riverboat into a Live! land-based casino. The company currently has an ongoing $1bn construction project relating to its Texas Live! Arlington Entertainment District, in addition to new properties in Tennessee, North Carolina, Florida, Georgia and Alabama.
Joe Weinberg, Managing Partner of The Cordish Companies, said, “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.”
The company’s currently running casinos include a Hard Rock Hotel & Casino in both Hollywood and Tampa, Florida as well as a Live! Casino & Hotel in both Maryland and Pennsylvania. Cordish hopes to turn Diamond Jacks into an entertainment district, with the approval of the Louisiana Gaming Control Board (LGCB).
Rob Norton, President of Cordish Gaming Group, said, “Our Live! casino resort and entertainment destinations around the country have set a gold standard for best-in-class operations and customer experiences.
“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.”
Thomas Chandler, Mayor of Bossier City, said, “This project will not only attract millions of visitors to our city annually, it will also create substantial new jobs and generate significant tax revenue for our community. We look forward to working together with Cordish and Foundation Gaming & Entertainment to bring a world-class destination to Bossier City.”
Cordish also plans to support Bossier City non-profit organizations through both direct monetary contributions and in-kind services.
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