Lake Charles Casino Selling For $134.5M
The Isle of Capri Casino Hotel Lake Charles has been sold to an affiliate of Laguna Development Corp for a reported $134.5M. The facility includes a 50k SF riverboat casino, 490 rooms, 1,150 slot machines, 35 table games, 13 poker tables, a concert venue, 14k SF of meeting space and an RV park, reports the News & Observer. The transaction is expected to close in late 2017 or early 2018, pending approval from the Louisiana Gaming Control Board. Isle of Capri Casinos Inc operates 14 others casinos in Colorado, Florida, Iowa, Louisiana, Mississippi, Missouri and Pennsylvania.
Kicks Entertainment, an entity of Laguna Development, the soon-to-be owners, is planning some improvements to the site. LDC spokesman Skip Sayre, in a statement Monday, said changes planned include new slot machines, new decor, and more food and beverage options.
Multiple news outlets report Laguna also plans to retain all of the property's nearly 1,000 employees. [NO]
