It seems that everyone was taken by surprise with the announcement that Paradise Casino LLC wants to move a low performing riverboat Casino from Lake Charles to Bossier City.
The plan is for the city to sell land just north of Bass Pro Shops to Paradise Casino for the riverboat casino and a 400 room resort hotel.
This will have to be approved by the Gaming Control Board and by the voters of Bossier Parish in the November election. If those approvals are forthcoming, work would start on the $170 million project immediately and completion would be in mid-2013.
Bossier City Council President David Jones said ‘I believe the citizens of Bossier and of Bossier Parish actually understand the importance of this market’. The new casino is expected to employ around 1200 people.
According to Forbes Magazine, the five riverboats and the Louisiana Downs track casino in the Shreveport-Bossier City market won $61.7 million in April (of 2011), compared with $64 million in April 2010. That market also caters to Texas residents who have had more of their attention drawn to Indian nation casinos in Oklahoma.
Overall the casino market in Louisiana has begun to rebound from the recession.
Will another casino push that revenue up, or will it pull its share from the existing casinos?
That’s the gamble.
Part of it went on gambling, and part of it went on women. The rest I spent foolishly.
- George Raft