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California  + Hospitality  |  June 28, 2016
Connect CRE
By: Connect CRE

CA Investor Acquires Formerly Bankrupt Louisiana Casino

Peninsula Pacific, headquartered in Los Angeles, has acquired DiamondJacks Casino in Bossier City, LA. The casino and hotel at 711 Diamondjacks Blvd., has been owned by creditors since emerging from bankruptcy in 2013.

Creditors continued to run the Bossier City and Vicksburg DiamondJacks locations in hopes they could recoup some of the $300 million they were owed. However, Foundation Gaming bought the Vicksburg DiamondJacks in 2015, renaming it WaterView Casino and Hotel.

Peninsula Pacific bought the Bossier City DiamondJacks’ debt late in 2015. The company’s M. Brent Stevens said the goal is to renovate the property and improve operations. He didn’t say if the casino would be rebranded or if employees would be cut.

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