DiamondJacks Casino and Hotel announced on Wednesday that the Bossier City, Louisiana casino has been acquired by Los Angeles-based investment manager Peninsula Pacific from the Louisiana Riverboat Gaming Partnership.
Legends Gaming LLC, along with Louisiana Riverboat Gaming Partnership in its entirety, were purchased by the private equity firm, through PGP Investors LLC, and Legends Holdings LLC, its wholly owned subsidy. Regarding the acquisition, Peninsula Pacific’s M. Brent Stevens said that the company “is extremely enthusiastic to once again be involved in the Louisiana gaming, entertainment and hospitality industry,” as reported by local media.
In a news release, Stevens added, “The opportunity to acquire DiamondJacks was the result of the purchase of the debt of Legends at the end of 2015. We view this moment of now acquiring the equity and control of DiamondJacks as the natural next step to enable us to improve the operations and to assess the property and license with the fundamental goal of maximizing their long term potential for the benefit of our investors, the employees of DiamondJacks, our customers and the local and state government. In the short term, our goal and commitment is to improve the existing operations at the facility.”
DiamondJacks Casino and Hotel has over 30,000 square feet of gaming, which includes more than 1,000 slots and video poker machines, 20 tables games, and a hotel with more than 500 rooms and suites, three restaurants and a full-service sports bar that has live entertainment on the weekends.