become a crime hub<\/a>, underscoring the LGCB\u2019s frustration with P2E dragging its heels on selling the property.<\/p>\n<\/div>\nThe Gaming Division of State Police and the Attorney General’s Gaming Division have to evaluate Foundation\u2019s financial position and ability to operate DiamondJacks, indicating it could be some time before the venue reopens.<\/p>\n
LGCB meets today, which could start moving the casino into the Foundation\u2019s hands.<\/p>\n
P2E Still In Gaming Business<\/h2>\n
While it\u2019s out of Louisiana for now, P2E still has a foothold in the gaming industry, as it controls several regional casinos.<\/p>\n
The company runs the Hard Rock Hotel & Casino in Sioux City, Iowa, Colonial Downs Racetrack in Virginia, del Lago Resort & Casino in upstate New York, and five Rosie\u2019s Gaming Emporium locations in Virginia.<\/strong><\/p>\nP2E is privately held. But Standard & Poor\u2019s estimates it generated $50 million of earnings before interest, taxes, depreciation and amortization (EBITDA) in the third quarter of 2021 — a pace the ratings agency forecasts the operator will maintain this year.<\/p>\n","protected":false},"excerpt":{"rendered":"
DiamondJacks Casino in Bossier City, La., appears to be on course to be sold as a regulatory deadline to reopen the venue nears. The Louisiana Gaming Control Board (LGCB) recently extended to owner Peninsula Pacific Entertainment (P2E) 60 days to reopen the gaming venue or sell it. The operator is opting for the latter choice. […]<\/p>\n","protected":false},"author":46,"featured_media":209690,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,32093],"tags":[],"acf":[],"yoast_head":"\n
DiamondJacks On Pace To Be Sold To Foundation Gaming<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n