PENN Entertainment announces plans for Boomtown Casino New Orleans property
PENN Entertainment plans to invest $195 million to relocate Boomtown Casino New Orleans to a new land-based property.Summary
PENN Entertainment Inc. has announced a $195 million investment to relocate its Boomtown Casino & Hotel New Orleans from a riverboat to a new land-based property on adjacent land. The project, set to open in 2029 pending regulatory approval, will rebrand the casino as Hollywood Casino New Orleans. The new development will span about 140,000 square feet and include approximately 875 slot machines, 45 table games, a retail sportsbook, and multiple dining options. The existing hotel will remain operational. CEO Jay Snowden emphasized the investment as part of a disciplined capital allocation strategy, highlighting similar recent relocations. PENN operates several other casinos in Louisiana and expects to finance the project with cash on hand or other liquidity sources.
(Source：Reading Eagle)