Bossier City’s sixth riverboat casino could be a $170 million Margaritaville-themed resort with a major entertainment component, according to principals of Paradise Casino LLC, who presented details of the project before the Bossier City Council yesterday. Afterwards, the council gave Mayor Lorenz Walker a formal go-ahead to negotiate a land deal for the project.
The project, which would include an 18- to 20-floor hotel tower, a 1,000-seat entertainment center and restaurants overlooking the Back Bay, is being positioned by Paradise as a growth driver for a market, some of whose participants are concerned that an additional casino would substantially damage their business.
"It's not our intention to feed off the existing operations here," Paul Alanis, a principal of Paradise, told theShreveport Times. "It's not our intention to cannibalize those. Our intention is to bring a whole new generation of gamers to this marketplace and who can grow this market dramatically and help everyone in this market. There is room for all of us."
On the gaming side, Margaritaville Bossier City would operate a 20,000-square-foot casino composed of 750 slot machines and 18 table games. Paradise has reached an option agreement with Isle of Capri that would enable it to move Isle’s Crown riverboat casino license to Bossier City, pending regulatory approval. The number of commercial casino licenses in Louisiana is capped at 15 and all are presently in use. The project is also subject to a local-option election scheduled for November 19.
Paradise pitches Magaritaville resort to Bossier City
June 24, 2011