To say that they were at the end of their rope; On Thursday, state gaming regulators gave the owners of the failed Slidell casino idea 60 days to sell their license or have it revoked.

The choice really came down to how long it would take to license DiamondJacks Casino Bossier City, which closed in March 2020, back into business, Louisiana Gaming Control Board Chairman Ronnie Johns said after the meeting. . It would take up to five years for the state to obtain the license, then complete the offers and background checks necessary to reissue one of the state’s 15 casino licenses that allow gambling in specific parishes that have accepted. Then, the new license holder would also need more time to complete the construction of the facilities and open its doors. If the license is sold to another company, the whole process could be completed in about two years.

P2E, the Richmond, Va.-based company that owns DiamondJacks, began secret negotiations about two weeks ago with Foundation Gaming Group, of Robinsonville, Miss. Foundation owns casinos in Tunica and Vicksburg. The company buys and renovates distressed properties, Johns said.

Drew Brees may have gone all out to locate a casino near Slidell, but voters in St. Tammany Parish weren’t — at least those who participated…

P2E executives skipped the Gaming Control Board hearing to hear their plans to reopen their Bossier City property, which has been closed since March 2020.

The owners had wanted to move their license from northwest Louisiana to a property outside of Slidell on Lake Pontchartrain, where they had hoped to build a $325 million casino to be called Camellia Bay. But in December, voters in St. Tammany Parish refused to allow casino gambling, forcing P2E to reopen its facilities in Bossier City.

Board members were angered by the company sending its New Orleans attorney and the person hired to deal with the abandoned Bossier City property, rather than coming themselves. And then being presented with a request for a 60-day extension.

While the council’s job is to look after the taxpayers of Louisiana, “we also have an obligation to the city of Bossier City to secure this property,” Johns said. “This property could sit vacant for years.”

A company that sought but failed to win voter approval to build a casino in Slidell is expected to buy some extra time on Thursday to decide whether to w…

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