As reported last week, the major gaming regulatory body for the state of Louisiana has decided to allow twenty-three casinos in the state to re-open after several weeks of being shut down due to the ongoing coronavirus pandemic. The state is home to three tribal and twenty commercial casino venues which can finally open their doors from the 18th of May. The venues can remain operational for as long as they follow strict safety and protection regulations and guidelines as established by the Louisiana Gaming Control Board.
Needless to say, the still ongoing coronavirus pandemic has caused extremely severe financial and economic disruption across all industries and the casino industry has not been excluded from this devastating, negative trend. The coronavirus pandemic has also caused the biggest global recession after the Great Depression while it has also led to cancellation and postponements of religious, sports, cultural and political events.
When it comes to the casino industry in the state of Louisiana, it is the fifth most profitable industry of this kind in the state. While many of its casinos are re-opening in the following days, one casino is closing for good, the DiamondJacks Casino and Hotel located in Bossier City, the state of Louisiana. According to the casino’s owners and officials, the casino is closing for good due to financial difficulties and business disruptions which were caused by the ongoing coronavirus pandemic.
DiamondJacks Casino and Hotel by Peninsula Pacific
The DiamondJacks Casino and Hotel venue located in Bossier City is operated and owned by Peninsula Pacific which is a holding company operating from its Los Angeles office. The venue opened its doors to the public for the first time on the 20th of May 1994 and unfortunately, it is closing for good just several days before its twenty-sixth anniversary.
According to several local news outlets, all of the property’s employees have been notified about the venue’s closure in advance and fortunately, all of them can apply to receive unemployment benefits. It was also revealed that their final paycheck should be issued on the 22nd of May. Commenting on the news about DiamondJacks Hotel and Casino closing permanently, the venue’s Vice President Diana Thornton said that unforeseeable conditions in the casino market caused by the ongoing coronavirus pandemic forced the venue’s owner and management to make the most difficult decision and close the property.
She also added that the management team for DiamondJacks Casino and Hotel has worked rather hard to overcome emerging financial difficulties, but unfortunately, one of the longest-standing businesses in this area of the state will shut down permanently.
The Louisiana Gaming Control Board Following Decisions
On their part, the Louisiana Gaming Control Board’s Chairman Ronnie Jones said that the major health crisis related to the coronavirus pandemic has passed so the board will start working on determining the negative impact of the casino’s closure on the state’s casino market. In the following days, the Louisiana Gaming Control Board will also decide what will happen with Peninsula Pacific’s casino license that is one of the state’s fifteen max licenses granted to riverboat casinos.
According to one local news outlet, the Louisiana Gaming Control Board will very soon engage in other important decisions related to the closed property’s physical assets. In other words, key shareholders of DiamondJacks Casino and Hotel will work on another closure plan which will revolve around the property’s vendors and physical assets. What is known for sure so far is that the property will be properly maintained throughout the entire closure process.