PENN Entertainment plans to invest around $195 million to relocate Boomtown Casino & Hotel New Orleans from its riverboat to a new landside property and rebrand it as Hollywood Casino New Orleans, pending regulatory approval.

The project is scheduled to open in 2029 and will encompass approximately 140,000 square feet of new development.

The new property is set to include about 875 slot machines, 45 table games, a retail sportsbook, and multiple dining options. The current riverboat casino will be vacated upon the opening of the new property, with PENN intending to continue the operation of the existing hotel.

“This investment demonstrates our strategic approach to capital allocation, focusing on organic growth opportunities that leverage our operational strengths and are anticipated to yield significant returns,” stated Jay Snowden, CEO and President of PENN Entertainment.

Snowden also mentioned that the relocation would mark PENN’s fourth landside casino movement in recent years, following the launches of Hollywood Casino Aurora and Hollywood Casino Joliet in Illinois, as well as the planned opening of Hollywood Casino Council Bluffs in Iowa in 2028.

“As with our previous relocations, we anticipate that our new facility will enhance the customer experience and reinforce the property’s competitive standing in the New Orleans market,” added the chief executive.

PENN currently operates four other casino destinations in Louisiana, including L’Auberge Casino Resort Lake Charles, L’Auberge Casino Hotel Baton Rouge, Margaritaville Resort Casino, and Boomtown Casino Hotel in Bossier City.

The company employs over 3,500 individuals in Louisiana and generates more than $200 million in state and local taxes annually.

PENN plans to finance the project with available cash, while keeping the option to utilize its balance sheet or other sources of liquidity. The company will collaborate with the Louisiana Gaming Control Board and Jefferson Parish Council to secure approval for the project.