BOSSIER CITY — A Los Angeles investment group is buying DiamondJacks Casino in Bossier City.
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.
It’s unclear if Peninsula Pacific will rebrand or cut employees.
Foundation Gaming bought the Vicksburg DiamondJacks last year and renamed it WaterView Casino and Hotel. Foundation is renovating and building a 700-seat events center.