The Louisiana Gaming Control Board recently voted 8-0 to approve Eldorado Resorts’ application for a new $112.7 million casino located between the parking lot and hotel at the Isle of Capri riverboat casino on Lake Charles.
Board Chairman Ronnie Jones said, “It’s personally a big deal for me because it took us a while to get here.” He added Eldorado’s application will help establish procedures for the state’s other 14 riverboat casinos that may want to move ashore.
Passed in May 20 18, Act 469 allows riverboats to locate their casino floors on dry land within 1,200 feet of the waterway where they were licensed to operate. State Senator Ronnie Johns of Lake Charles, the bill’s sponsor, said, “This is a real game-changer.”
Eldorado Resort Executive Chairman Gary Carano said the improvements at the Lake Charles property will help the venue compete with the nearby Las Vegas-style Golden Nugget and L’Auberge casinos. At 72,000 square feet, the Eldorado facility will offer nearly three times the floor space of the riverboat, with 1,271 slots instead of the current 1,154 and 43 table games instead of 36.
It will have a brewery restaurant and a noodle bar, three bars and possibly a food hall featuring local chefs’ own venues. Carano noted non-gaming amenities, such as fine dining, will attract more patrons and produce nearly as much revenue as slot machines and craps tables.
Carano said construction will begin by late January and be completed in May 2021. He said the project will create about 300 construction jobs, adding about 22 employees will lose their marine-based jobs but positions should increase from 735 to 804 when casino operations move ashore.
State officials and casino operators expressed optimism that the shored-based facilities can jumpstart flat revenue. Economists recently said riverboats are expected to produce $8.6 million to $12.8 million less this fiscal year compared to last; the state took in $715 million in gambling revenue for the fiscal year that ended June 30.
