Poydras Gaming Finance announced it will partner with Louisiana-based Southern Ace to acquire video poker machines throughout the state. Two companies will be formed: Poydras Gaming, in which, under the agreement, Poydras will have a 90 percent interest. Poydras will have a 49 percent interest in the other entity, Poydras Gaming Devices, which will own the physical machines in compliance with state regulations that require video poker devices be majority owned by Louisiana residents.
Peter Macy, chief executive officer of Poydras Gaming Finance, said, “Our new platform positions us to move aggressively into the $600 million Louisiana video poker market and we are already in active discussions regarding several attractive acquisitions.”
The Louisiana video poker market is made up of about 13,800 machines in restaurants, bars and truck stops. Each parish determines the legality of the video poker machines. Up to three machines can be placed in licensed bars and restaurants, and up to 50 machines are allowed in licensed truck stops.
