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PENN Entertainment Intends To Invest ~$195M To Relocate Boomtown Casino & Hotel New Orleans Riverboat Casino Operation To New Landside Property On Adjacent Land, Rebrand Property As Hollywood Casino New Orleans

Benzinga · 08/17 14:03

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PENN Entertainment, Inc. (NASDAQ:PENN) ("PENN" or the "Company") today announced plans to invest approximately $195 million to relocate its Boomtown Casino & Hotel New Orleans riverboat casino operations to a new landside property on adjacent land and rebrand the property as Hollywood Casino New Orleans, pending regulatory approval.

If approved, Hollywood Casino New Orleans is expected to open in 2029 and will include roughly 140,000 square feet of new development, approximately 875 slot machines, 45 table games, a retail sportsbook, and multiple dining options. The existing riverboat will be vacated upon opening of the new property, and PENN expects to keep the existing hotel open at this time.

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