Reno, Nevada-based Eldorado Resorts is considering moving the Isle of Capri riverboat casino in Lake Charles, Louisiana to a land-based operation, according to Chairman and Chief Executive Officer Gary Carano. Work on the $75-$100 million project could begin in the second half of 2019 and be completed in 2020, Carano said. He added the company could expect at least a 15 percent return on the investment. The Louisiana legislature passed a law earlier this year allowing riverboat casinos to move ashore.
Carano added Eldorado does not anticipate moving its Belle of Baton Rouge riverboat casino operations ashore. The Belle’s former owner, Tropicana Entertainment, had discussed moving the casino into the adjacent 80,000 square foot atrium. Carano said in April that such a move could significantly reduce costs. However, Louisiana Gambling Control Board President Ronnie Jones said the board wants new capital improvements included in any riverboat casino relocation. “What the task force intended to do was not just move the slot machines onto land. This is about building new resorts with new amenities and gambling,” Jones said.
The Baton Rouge casino market has been declining since July 2017, but Texas gamblers have helped boost revenue at the three Lake Charles riverboat casinos.
Eldorado also owns a riverboat casino in Shreveport.
