New Mexico-based Laguna Pueblo did not obtain approval from the Louisiana Gaming Control Board in time to purchase the Isle of Capri Casino Hotel Lake Charles in Westlake. As a result, Isle of Capri canceled the sale to the Laguna Development Corporation’s Kicks Entertainment Unit.
Laguna Development announced in August 2016 it had signed a purchase agreement to acquire the Isle of Capri Casino Hotel Lake Charles for $134.5 million. However, the purchase had to be completed within 12 months.
Laguna Development pulled its application from the Gaming Control Board in November 2017.
Laguna Development President and Chief Executive Officer Jerry Smith said in a statement he was disappointed a deal was not reached.
