Gaming and Leisure Properties (GLPI) is on the quest to give a new name to its Hollywood casino based in Baton Rouge, Louisiana when Hollywood Casino moves to land in 2022. If the quest is approved, the Gaming Real Estate Investment Trust (REIT) will replace the Hollywood title and replace it with Casino Rouge. REIT is scheduled to meet Baton Rouge Planning Commission on December 14, 2020, to discuss the plans for renaming Hollywood Casino.
In 2018, the state signed into law, allowing all the 15 riverboats in Louisiana to come on land. The law required that the new venue is within 1200 feet from its original docking patch. Following this, the Gaming and Leisure Properties proceeded to seek approval to move its riverboat casino onto dry land. The GLPI won the approval, becoming the second casino to be approved to move to land.
Gaming and Leisure Properties acts as the Penn National Gaming and Caesars Entertainment landlord, collecting rent from them and other gaming operators. It leaves all the other procedures to the companies renting their gaming venues. On the other hand, REIT has several small casinos that it operates, including the Hollywood situated in the LA capitol.
Besides Hollywood casinos in Louisiana, GLPI is also responsible for several other real estates of various Pelican State gaming properties, including L’Auberge casinos, two in Boomtown, and the Belle of Baton Rouge, also floating on a river.
The Cost of Moving Hollywood Casino
An August report by GLPI said that it would take more than $10 million to bring Hollywood Casino to land. The good news is, the move will come with 170 new job opportunities. It will take over $21 million or a maximum of $25 million to ensure Casino Rogue is up and running by 2022. According to Great Baton Rouge Business Report, Hollywood casino will move its perimeters along River Road with over 100,000 square feet. This expansion will host an entertainment spot with 250 seats and a gaming bar level, with a Mississippi River view.
The GLPI also plans to move over 12 table games to the new gaming venue and 860 slot machines from the river venue. However, the buffets, presently situated on the subsequent floor from the gaming floor, will not be moving to land. The land it would have occupied will be used as an event space or for business purposes. The move to leave the buffet floor isn’t new. Following the COVID-19 pandemic, most gaming companies drop the buffet model and focus on gaming, resulting in higher revenue collection.
What Other Thing Should LA Residents Expect?
The upcoming Casino Rouge will feature not only an entertainment space but also Shaquille O’Neal Big Chicken Restaurant. GLPI also plans to include a bar next to the recreational space, which could ultimately turn into a sportsbook. This comes after Louisiana residents voted to approve sports betting in November.
East Baton Rouge Parish, the host to the existing Hollywood casino and the future casino once it moves, was one of the geographical areas that voted to approve sports gambling. Thus, Louisiana residents can expect to access sports betting channels in the state by 2022.
