Louisiana: Cordish breaks ground on $270 million Live! Casino & Hotel in Bossier City
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The Cordish Companies has commenced the construction of the $270+ million Live! Casino & Hotel Louisiana,set to becomethe first land-based casino in the Shreveport-Bossier market. The company promises the property will become a destination gambling, event and entertainment resort that will rival the top destinations in the country.
The official groundbreaking ceremony, hosted by The Cordish Companies Principal Jon Cordish, was attended by Louisiana State Senator Barrow Peacock; State Representative Sam L. Jenkins, Jr.; Bossier City Mayor Thomas Chandler; and Louisiana Gaming Control Board Chairman Ronnie Johns,along with dozens of regional elected officials. Other business, community, and tourism leaders joined Cordish executives for the first turn of the shovels marking the start of construction of the project.
Live! Casino & Hotel Louisiana is being built on the site of the former Diamond Jacks Casino & Hotel in Bossier City. In October, the Louisiana Gaming Control Boardunanimously granted Cordish affiliate LRGC Gaming Investors the necessary regulatory approvals required to become a gaming operator in the state. The approval cleared the way for Cordish to finalize the acquisition of Diamond Jacks and begin the transformation of the propertyinto a Live! branded casino resort.
The property is located along theRed River, directly across from Shreveport, with convenient access off U.S. Highway 71 and Interstate 20, approximately 20 miles from the Texas border and 40 miles from the Arkansas border.
Scheduled to open in 2025, the casino will feature more than47,000-square-feet of gaming space including 1,000+ slots and electronic table games and 40+ live action table games; a sportsbook; an upscale 550-room hotel, resort pool and fitness center;a 25,000-square-foot, multi-purpose event center; structured and surface parking; and 30,000-square-feet of dining entertainment venues including multiple new food and beverage outlets.
The project is expected to generate $35 million in gaming tax revenues for the City of Bossier and more than $168 million in gaming tax revenues for the State of Louisiana within the first five years of operation. Annually, it is expected to generate $34 million in salaries, wages and tips,create approximately 750 new construction jobs and approximately 750 permanent gaming and hospitality jobs for local and regional residents, as well as contract opportunities for local, minority, women-owned, and veteran-owned businesses.
"Today marks an incredibly special day for my family and The Cordish Companies as we continue to expand our Live! brand in the Southeast region of the country with the development of Live! Casino & Hotel Louisiana," said Jon Cordish, Chairman of The Cordish Companies.
"With the first land-based casino in the market, Live! Casino will be a transformative development that will bring afirst-class gaming and entertainment experience to millions of visitors, create significant new jobs, and generate millions of dollars in economic benefits for the community for generations to come. I'd like to thank state and local officials, in particular Mayor Chandler and Ronnie Johns, for their continued support for this project."
Baltimore-based Cordish, a family-owned enterprise with a century-long history, maintains extensive global operations in gaming, entertainment, residential, and hospitality sectors. The company oversees casinos in Maryland, Philadelphia, Pittsburgh, Tampa, and Hollywood, Florida.
