For us$ 32.5 million

Ameristar approved to buy Lake Charles casino plan

2012-06-27
Reading time 48 seg
(US).- Louisiana gambling regulators unanimously agreed last week to let Ameristar Casinos buy a riverboat casino resort project under development in Lake Charles. It is purchasing the uncompleted project from Creative Casinos of Louisiana for us$ 32.5 million.

Since Las Vegas-based Ameristar did not have a Louisiana casino license, the company was required to undergo a standard background and financial check. After hearing reports on those reviews, the Louisiana Gaming Control Board voted to transfer the membership interest in the Mojito Pointe Casino Resort project to Ameristar. "I think it's in the best interest of the state of Louisiana," said board member Franklin Bradford.

Ameristar has eight casino-hotels and operates in Mississippi, Colorado, Iowa, Indiana, Nevada and Missouri.

The Lake Charles plan calls for a us$ 500 million project that includes a floating casino, a 700-room hotel and an 18-hole golf course on property leased from the Port of Lake Charles. Ameristar says it plans to start construction in July, with completion required under the license conditions by mid-2014.

"We look forward to building a premier property that will further distinguish Lake Charles as a true resort destination serving southwestern Louisiana and southeastern Texas, including the Houston metropolitan area," Ameristar CEO Gordon Kanofsky said in a statement.

Related topics:
Leave your comment
Subscribe to our newsletter
Enter your email to receive the latest news
By entering your email address, you agree to Yogonet's Terms of use and Privacy Policies. You understand Yogonet may use your address to send updates and marketing emails. Use the Unsubscribe link in those emails to opt out at any time.
Unsubscribe
EVENTS CALENDAR