Following lingering rumors of imminent closure and about one year after the announcement, new ownership at Louisiana Downs in Bossier City is close to being in place.
Last week, the Louisiana Gaming Control Board gave Rubico Acquisition Corporation approval to purchase the racetrack and casino. Rubico will pay $22 million for the facility.
The sale of the property still requires the approval of the Louisiana Racing Commission, which meets before the end of the month. With that approval, the transition to the new owner is expected to begin on Nov. 1, 2021.
“This is a big win for everyone involved,” said Kevin Preston, President of Rubico Acquisition Corporation, in a release. “Louisiana Downs is such an iconic institution of the Bossier City and Northwest Louisiana landscape. At one time, it was one of the premier horse racing tracks in the state, and our plan is to restore it as a place of entertainment for the entire family.”
Plans for the facility include adding new games to the casino floor, a new rewards program, and new food and beverage outlets. Plans also call for a state-of-the-art sportsbook. The sale will not affect horse racing at Louisiana Downs.
“As the new name in the Shreveport-Bossier City gaming market, our commitment is to be a good neighbor,” added Preston. “We look forward to becoming a part of Northwest Louisiana and continuing the legacy of gaming and horse racing at Louisiana Downs.”
Louisiana Downs: Following Risk of Closure, Transfer of Ownership Pending - Bossier Now
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