A Los Angeles investment group is buying DiamondJacks Casino in Bossier City. It is a facility that typically collects the least revenue of the six casinos in northwest Louisiana
Peninsula Pacific announced the purchase Wednesday, disclosing no price. The casino had been owned by creditors since emerging from bankruptcy in 2013.
Faced with recovering little of the $300 million owed if they liquidated Louisiana and Mississippi casinos, creditors kept running them.
Peninsula Pacific’s M. Brent Stevens, a veteran casino operator, says his company bought DiamondJacks’ debt late last year. Stevens says he wants to improve operations and plans renovations. DiamondJacks typically collects the least revenue of six full-fledged casinos in northwest Louisiana.
Phil Hevener has been writing about the Nevada gaming business for more than 30 years. Email: