23 Dec Foundation Gaming & Entertainment Announces the Completion of Acquisition of Diamond Jacks Casino & Hotel in Bossier City, Louisiana
GULFPORT, Miss.–(BUSINESS WIRE)–Foundation Gaming & Entertainment, LLC announced today the completion of the acquisition of the Diamond Jacks Casino & Hotel in Bossier City, Louisiana after receiving the requisite approval from the Louisiana Gaming Control Board at its December meeting.
The Company intends to redevelop the Diamond Jacks property, which has been closed since March of 2020, including constructing a land-based casino replacing the existing casino riverboat.
“We are pleased to have completed this acquisition and look forward to finalizing the plans for this project,” said Greg Guida, Co-CEO of Foundation Gaming & Entertainment, LLC. “Now that we have completed the transaction, we will be focusing on the design and development process, which will include re-branding the property. Foundation Gaming is looking forward to being a part of this new and exciting opportunity in Bossier City.”
Donn Mitchell, CFO of Foundation Gaming & Entertainment, LLC added, “This acquisition plays to our strengths of reviving existing properties in well-established regional markets, as well as adding diversity to our geographic footprint. Once we get construction and renovations completed, the property will be a welcome addition to our existing portfolio.”