In Louisiana, a new study from Spectrum Gaming Group has reportedly determined that a pair of under-performing riverboat casinos located near the city of Shreveport would benefit by being moved to other areas of the state.
According to a Wednesday report from local television broadcaster, KNOE-TV, the investigation found that relocating DiamondJacks Casino Hotel Bossier City and Boomtown Casino Bossier City from their current locations would moreover help the southern state to harvest some of the gaming tax dollars it regularly loses to rival casinos in neighboring Mississippi.
The area around Shreveport is also home to the Margaritaville Resort Casino venue from Penn National Gaming Incorporated as well as Caesars Entertainment Corporation’s Horseshoe Bossier City and Harrah’s Louisiana Downs facilities. Spectrum reportedly explained that reducing this tally for the region of around 439,000 people would furthermore assist this trio of remaining gaming enterprises to improve their own future prospects.
The broadcaster reported that DiamondJacks Casino Hotel Bossier City is operated by California firm Peninsula Pacific and that the study from Spectrum suggested relocating this floating venue to an area of northeast Louisiana near the small city of Monroe. The investigation purportedly pointed out that such a move would see this facility almost double its annual gross gaming revenues to around $60 million and lead to the state benefiting to the tune of about $12.9 million every year.
In the case of Boomtown Casino Bossier City, the examination from Spectrum Gaming Group reportedly recommended that the venue owned by Gaming and Leisure Properties Incorporated be moved to a site along the northern shore of Lake Pontchartrain. The analysis for the riverboat property operated by Penn National Gaming Incorporated purportedly speculated that doing so would lead to a similar increase in annual gross gaming revenues to approximately $100 million with the state’s yearly take rising to some $21.5 million.
According to a study from Spectrum…
“The Shreveport-Bossier City market is down 21% since 2007 due to competition from Oklahoma tribal casinos for Dallas-Fort Worth-area patrons.”