The Louisiana Gaming Control Board this week approved Eldorado Resorts’ application to move its Isle of Capri Casino Lake Charles onto dry land.
Eldorado’s riverboat casino was the first state gambling facility to be permitted to relocate its operations on land after last year’s passage of a bill that authorized such relocations.
The eight-member Louisiana casino regulator approved with no objection a plan previously presented by Eldorado to build a $112.7 million casino between the existing parking lot and hotel that are part of the Isle of Capri riverboat casino complex. The site of the future casino is located just off Interstate 10 and not far from the City of Lake Charles.
In May 2018, Louisiana Gov. John Bel Edwards signed into law SB 316 that allowed the state’s riverboat casinos to move their gaming operations on land.
This week’s green light for Eldorado’s relocation plan paves the way for Louisiana’s other riverboat casinos to come ashore at some point in future. Several other facilities have already taken initial steps to transform into land-based properties, but they still need to submit applications and plans with the Gaming Control Board.
Louisiana first legalized casino gambling about 25 years ago. At first, casinos were only allowed on riverboats and gambling was only permitted when the vessels were sailing. Later on, lawmakers relaxed those initial restrictions, and casinos were allowed to operate from moored vessels. Harrah’s New Orleans has been the state’s only land-based casino.
Hopes for Economic Boost
Eldorado’s land-based facility will occupy approximately 72,000 square feet of gaming space and will feature 1,271 slot machines, up from 1,154 abroad the riverboat, and 46 table games, up from 36. The land-based operation will also include a VIP Lounge, and restaurants with views of Charles Lake.
Casino operators and state gaming regulators hope that the relocation of the riverboat casinos onto dry land would reinvigorate the state’s gambling industry, which has not seen any significant growth in recent years. The state’s 15 riverboats are actually expected to contribute between $8.6 million and $12.8 million less this fiscal year compared to their tax revenue last year.
The riverboat casinos are required to provide “economic development” opportunities to justify their relocation on dry land.
Eldorado plans to attract visitors with fine dining and a number of other food and beverage options, including a brewery, a noodle bar, and a new facility with three more bars. The casino operator told Louisiana gaming regulators that it is in negotiations with local chefs to open their own restaurants within its Lake Charles property’s food hall.
Construction on the land-based casino is expected to kick off by the end of January. About 300 construction jobs are set to be created. The project is scheduled to be completed in May 2021. While 22 marine-based jobs will be lost once the casino moves on land, the number of overall jobs will rise to 804, up from 735, when the land-based facility opens doors.
Follow us on Facebook and Twitter to stay up to date on the day’s top casino news stories
