PENN Entertainment will invest approximately $195 million to relocate Boomtown Casino & Hotel New Orleans from its riverboat to a new landside property and rebrand it as Hollywood Casino New Orleans, subject to regulatory approval.
The project is expected to open in 2029 and involve approximately 140,000 square feet of new development.
The new property is planned to feature around 875 slot machines, 45 table games, a retail sportsbook, and multiple dining options. The existing riverboat casino will be vacated once the new property opens, while PENN expects to keep the existing hotel operating.
“This investment reflects our disciplined approach to capital allocation, prioritizing organic growth opportunities that build on our operational strengths and are expected to deliver compelling returns,” said Jay Snowden, CEO and President of PENN Entertainment.
Snowden added that the relocation would mark PENN’s fourth landside casino move in recent years, following the openings of Hollywood Casino Aurora and Hollywood Casino Joliet in Illinois, as well as the planned opening of Hollywood Casino Council Bluffs in Iowa in 2028.
“As with our previous relocations, we expect our new facility to enhance the customer experience and strengthen the property’s competitive position in the New Orleans market,” the chief executive added.
PENN currently operates four other casino destinations in Louisiana, including L’Auberge Casino Resort Lake Charles, L’Auberge Casino Hotel Baton Rouge, Margaritaville Resort Casino, and Boomtown Casino Hotel in Bossier City.
The company employs more than 3,500 people in Louisiana and contributes over $200m in state and local taxes annually.
PENN expects to fund the project with cash on hand, while retaining the option to use its balance sheet or other sources of liquidity. The company said it will work with the Louisiana Gaming Control Board and Jefferson Parish Council as it seeks approval for the project.