WYOMISSING, PA — PENN Entertainment Inc. plans to invest about $195 million to move its Boomtown Casino & Hotel New Orleans gambling operations from a riverboat to an adjacent landside development, extending the casino operator’s strategy of replacing floating properties with permanent facilities.
The proposed Hollywood Casino New Orleans is expected to open in 2029, subject to regulatory approval, PENN (Nasdaq: PENN) reported. The roughly 140,000-square-foot development would include about 875 slot machines, 45 table games, a retail sportsbook and multiple dining options.
The existing Boomtown riverboat would be vacated when the new casino opens. PENN currently expects to continue operating the property’s existing 150-room hotel.
The project would mark PENN’s fourth recent move of casino operations onto land, following the openings of Hollywood Casino Aurora and Hollywood Casino Joliet in Illinois and the planned Hollywood Casino Council Bluffs in Iowa, which is expected to open in 2028.
PENN Chief Executive Officer and President Jay Snowden characterized the New Orleans project as part of the company’s approach to directing capital toward existing operations where it sees opportunities for growth.
“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,” Snowden stated.
PENN expects to finance the development with cash on hand, though the company could also use its balance sheet or other sources of liquidity.
The relocation requires regulatory approval. PENN indicated it expects to work with the Louisiana Gaming Control Board and Jefferson Parish Council as the project moves forward.
Boomtown Casino & Hotel New Orleans operates in Harvey on the West Bank of Jefferson Parish. Its existing casino has more than 700 slot and video poker games, more than 20 table games, a live poker room and a sportsbook, along with restaurants and an entertainment venue.
The planned replacement would therefore increase the property’s gaming capacity, including an expansion to approximately 875 slot machines and 45 table games.
The investment also would deepen PENN’s presence in Louisiana, where it operates four other casino destinations: L’Auberge Casino Resort Lake Charles, L’Auberge Casino Hotel Baton Rouge, Margaritaville Resort Casino and Boomtown Casino Hotel in Bossier City.
PENN reported that it employs more than 3,500 people in Louisiana and contributes more than $200 million annually in state and local taxes.
The New Orleans proposal follows PENN’s recent investment in landside casino relocations as the company seeks to modernize physical properties and strengthen their competitive positioning in regional gaming markets.
