Monday, May 21, 2018

Developer eyes possible entertainment, casino resort in Robert

Posted: Friday, February 2, 2018 | Views: 24137

Developer eyes possible entertainment, casino resort in Robert
LOS ANGELES, CALIF. (Feb. 2, 2018) — Today, Peninsula Pacific announced the continuation of its 15-year presence in Louisiana with an effort to revitalize its existing gaming license through a new project that would result in a state-of-the art integrated gaming entertainment destination.

In December 2015, Peninsula Pacific purchased a Louisiana gaming license and acquired a struggling facility in Bossier Parish, with the intent of reinvesting in the license by developing an integrated entertainment and gaming destination. Following years of success in running gaming destinations around the country, Peninsula Pacific’s desire was to turn-around a struggling facility and establish a venue worthy of holding a rare Louisiana gaming license.

Two site locations are now under consideration for the revitalization of the existing license. One option is the expansion of its current Bossier Parish location to include a landside operation based around a newly constructed, integrated gaming destination. The other option Peninsula Pacific is considering is a relocation to Tangipahoa Parish directly south of Interstate 12 along the Tangipahoa River.

Either project could represent an investment of more than $100 million and would contain a gaming venue, several food and beverage options and other non-gaming amenities. Peninsula Pacific plans on developing other site-specific amenities and potential venues that would be chosen to match the needs and desires of the community. At other Peninsula Pacific destinations, venues and amenities have ranged from an equestrian event center to a luxury hotel.

As an important part of this process, Peninsula Pacific is announcing an engagement effort called “Community Conversations.” As a part of “Community Conversations,” Peninsula Pacific will actively communicate with local residents, stakeholders and community leaders.

Brent Stevens, manager of Peninsula Pacific, said the company looks forward to engaging with and gathering feedback from the Bossier and Tangipahoa communities, adding that, whichever location is pursued, the destination will be a victory for Louisiana as a whole.

“Because of the limited number of gaming licenses available in Louisiana, Peninsula Pacific understands that each license is truly a valuable asset to the state,” Stevens said. “Louisianans deserve the best and we look forward to creating a destination that is both fun, successful and rewarding to the community and the state. In either of these two locations, we will be able to create economic development and drive revenue into critical public sectors like infrastructure, education and quality of life.”

Peninsula Pacific has an impressive history of success, bringing substantial economic growth, tax relief for residents and quality jobs to each community in which it develops. For example, Peninsula Pacific’s Sioux City Hard Rock Hotel and Casino added nearly 600 quality jobs and grew the city’s gaming market by more than $20 million in its first year alone. Among the company’s Louisiana successes was Peninsula Pacific’s 2003 construction and opening of Evangeline Downs Racetrack and Casino in Opelousas. The site has developed into a significant economic boon for Opelousas and St. Landry Parish.

The decision to proceed with a project in either parish will also hinge on the Louisiana State Legislature’s approval of multiple pieces of legislation. In Tangipahoa, a public vote in favor of the project will also be required for the project to move forward.

“We want the public involved in every step of this project, and we want to ensure all Louisianans that this will be an open and transparent process,” Stevens said. “Having the support of the communities we serve is paramount to every project Peninsula Pacific undertakes, and that is why we are launching this ‘Community Conversations’ process.”

Peninsula Pacific has spent considerable time working to identify the best options available for the revitalization of its gaming license and is meeting with local elected leaders to discuss the potential for each option.

About Peninsula Pacific
Peninsula Pacific is a private Los Angeles-based company focused on control investments with deep experience in hospitality and gaming. Founded in 1999 by M Brent Stevens, Peninsula Pacific created Peninsula Gaming, which owned and operated five casino properties, and subsequently sold to Boyd Gaming Corporation in 2012 for more than $1.4 billion. Peninsula Pacific employs a highly disciplined investment strategy, as evidenced by the results of the sale of Peninsula Gaming, which yielded among the best investment returns seen in the gaming industry. Continuing on its proven strategy, Peninsula Pacific seeks to make investments in gaming and other industries by aligning with management and local communities, developing opportunities in underserved markets, improving business processes and creating long-term value.