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Casino
December 2, 2020
Caesars Sells Operations at Belle of Baton Rouge in Louisiana
Casino giant Caesars Entertainment announced today it entered into a definitive agreement to sell Belle of Baton Rouge riverboat casino and hotel in Louisiana to CQ Holding Company. GLPI Retains Ownership The riverboat property is owned by Gaming and Leisure Properties (GLPI) and Caesars is operating it under a master lease agreement with the real […]
Business
November 4, 2020
Maryland, South Dakota and Louisiana Approve Ballot Measures
A trio of states voted in favor of ballot measures for the legalization of sports betting and fueled buying interest for stocks of sports betting operators on the markets Wednesday morning. Boston-based daily fantasy sports and betting operator DraftKings had its biggest rally in 3 weeks, posting gains of 6.2%, followed closely by Penn National […]
Legal
November 3, 2020
Voters To Weigh In On Gaming Expansion In 6 States
Voters in six US states will be asked on Election Day to weigh in on gaming expansion legislation. The new measures range from legalizing sports betting to authorizing casinos. Sports betting legislation will be on the general election ballot in Maryland, Louisiana, and South Dakota. In a note on the subject, Truist Securities gaming analyst […]
Casino
October 1, 2020
Caesars Expands Harrah’s New Orleans in a $325m Investment Move
Caesars is on track to expand its Harrah’s New Orleans property by investing $325 million in a hotel tower and its casino. The investment would guarantee Caesars a 30-year license extension. New Orleans to See Harrah’s Casino Expand in a $325m Overhaul Push Harrah’s New Orleans has appointed a new general manager amid a $325 […]
Business
September 20, 2020
New Orleans Casino Revenue Drops with 36.3% in August
Recent numbers revealed by the Louisiana regulator outlined a revenue drop of 36.3% for New Orleans in August. The casino industry in the Pelican State took a heavy hit from the COVID-19 pandemic and Hurricane Laura. A 36.3% Gambling Revenue Drop in New Orleans for August Numbers released recently by the Louisiana Gaming Control Board […]
Casino
September 4, 2020
Caesars and VICI Sell Harrah’s Louisiana Downs for $22M
Caesars Entertainment and VICI Properties announced Thursday the sale of a casino property, as both companies entered into definitive agreements to sell Harrah’s Louisiana Downs in a $22 million deal to Rubico Acquisition Corp. The sale of the casino and racecourse resort in Bossier City, Louisiana, comes as a surprise on the back of the […]
Casino
August 23, 2020
Louisiana’s Hollywood Baton Rouge to Move Onshore by 2022
The Hollywood Casino Baton Rouge is moving onshore after the approval of the Louisiana Gaming Control Board. Hollywood Casino Gets Go-Ahead to Move Onshore The Louisiana Gaming Control Board has given the go-ahead to the Hollywood Casino Baton Rouge to relocate permanently in the state, moving onshore from currently operating on the Mississippi River. The […]
Legal
July 15, 2020
Fantasy Sports Betting Tax Signed into Law in Louisiana
Louisiana Governor John Bel Edwards has signed into a law a bill that sets an 8% tax on fantasy sports betting. Fantasy Sports Tax Voted and Approved in Louisiana Louisiana has managed to secure the legal framework necessary for the introduction of a fantasy sports tax nearly two years after 47 out of 64 state […]
Casino
July 7, 2020
Lousiana Casinos to Let Go Another 1,150 Workers in August
Another 1,150 casino workers will lose their jobs, the Associated Press reported, citing data by the Louisiana Workforce Commission. Louisiana to See 1,150 Workers Lose Their Jobs Louisiana casinos may have to lay off as many as 1,150 workers in several locations in August and what would be the next step in trying to cushion […]
Casino
June 19, 2020
Louisiana Votes $83m Casino Tax Break to Help the Industry Cope
A new Senate Bill, SB 5, will help Louisiana’s gaming industry cope with the blow dealt by the pandemic, tanking revenue by $122 million as of May. Louisiana Senate Passes Law to Help Casino Industry Overcome Pandemic The Louisiana Senate Revenue and Fiscal Affairs committee has decided to proceed with a planned five-year tax break […]