Laguna Pueblo signs deal to acquire commercial casino in Louisiana

Monday, August 22, 2016

The Isle of Capri Casino Hotel Lake Charles in Westlake, Louisiana. Photo from Facebook

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Laguna Pueblo in New Mexico is expanding its gaming enterprise to another state.

Laguna Development Corporation, the tribe's economic development arm, announced an agreement to buy the Isle of Capri Casino Hotel Lake Charles in Westlake, Louisiana. The $134.5 million deal, which is subject to regulatory approval, marks the tribe's first foray into commercial gaming.

"Our acquisition of the Isle of Capri Casino in Lake Charles is the culmination of a two-year business development effort to expand LDC both within and outside of New Mexico," LDC President and CEO Jerry Smith said in a press release on Monday. "Lake Charles is Louisiana’s largest casino market. With our operating principals of quality, service and value we expect to continue to generate solid financial results for our owners and investors."

The 50,000 square-foot facility, located on Lake Charles, features a 493-room hotel, slot machines, table games, a poker room, a restaurant, a fast food eatery and a buffet. It's the only Louisiana property owned by Isle of Capri Casinos, Inc.

"We have enjoyed owning and operating Isle of Capri Casino Hotel Lake Charles for more than 20 years, and we appreciate the hard work and dedication of our team," CEO Eric Hausler said in a press release.