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PENN Entertainment Plans $195 Million Landside Hollywood Casino New Orleans

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PENN Entertainment (PENN) said Monday it plans to invest nearly $195 million to relocate its Boomtown Casino & Hotel New Orleans riverboat casino to a new landside property on adjacent land and rebrand it as Hollywood Casino New Orleans, subject to regulatory approval.

Hollywood Casino New Orleans is expected to open in 2029 and will include approximately 140,000 square feet of new development, about 875 slot machines, 45 table games, a retail sportsbook, and multiple dining options, the company said.

The current riverboat will be vacated upon the opening of the new casino, while PENN expects to keep the existing hotel open for now, the company added.

PENN said it expects to fund the project with cash on hand but might tap its balance sheet or other sources of liquidity.

Price: $18.89, Change: $+0.10, Percent Change: +0.51%

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