SHREVEPORT - BOSSIER CITY, La. (KTBS) -
An Alabama-based Indian tribe has purchased Margaritaville Resort-Casino.The Poarch Band of Creek Indians and Margaritaville are going through the approval process that’s expected to take until near year’s end to complete. The application for a change of ownership for Margaritaville is under review by Louisiana State Police, who will send their findings to the state gaming board, which would have to give the final stamp.
Margaritaville General Manager Barry Regula declined an official comment Friday. A spokeswoman for the Poarch Band of Creek Indians on Friday was unable to provide comment but said she would put together information.
KTBS 3 News broke the story about the pending deal Sunday shortly before 4 p.m. and within a half-hour received an official statement from the tribe.
The announcement states PCI Gaming, doing business as Wind Creek Hospitality in Atmore, Ala., which is an authority of the Poarch Band of Creek Indians, along with Bossier Casino Venture, owner and operator of Margaritaville have entered an agreement whereby PCI will acquire 100 percent of BCV’s interest, subject to certain closing conditions.
The purchase price was not disclosed.
"PCI's success has been key to our ability to improve opportunity and increase services to our tribal members. This acquisition will further our goal of building a great company, providing superb customer service, dedicated to and appreciative of its employees and committed to the communities in which we operate. We look forward to becoming an important contributing member of the Bossier City/Shreveport community,” Tribal Chairwoman Stephanie Bryan said in a statement to KTBS.
Jay Dorris, president and chief executive officer of Wind Creek, commented; "We are proud of the quality and attention to customer service that characterizes our three successful gaming operations in the state of Alabama. We believe that Margaritaville Casino Resort in Bossier City is a great fit with our operating philosophy and will provide us the opportunity to further establish Wind Creek Hospitality as the premier operator of first class casino resorts in the Southeast."
Bossier Casino Venture Chief Executive Officer Paul Alanis added his thoughts, too, in the same statement: "Our strong management team has performed beyond my expectations in delivering a consistent, quality entertainment experience for all of our loyal customers. More than anything else, this has enabled us to succeed in a highly competitive environment and quickly become a market leader. I am extremely supportive of this transaction as I believe the Poarch Creek will continue our philosophy of quality customer service and their ownership will be of great long term benefit to our employees, our customers and the community."
One person familiar with the Margaritaville situation said an Indian tribe had tried to buy DiamondJacks casino in Bossier City, which last week was bought by Los Angeles-based investment firm Peninsula Pacific, which provides money to businesses. In a statement announcing the sale of Diamond Jacks, Peninsula Pacific did not say what its long-term plans are for the Bossier City casino.
If the sale of Margaritaville makes it through the full approval process, it would be the first Indian-owned casino in the Shreveport-Bossier market. There are three land-based Indian-owned casinos in central and south Louisiana.
Shreveport-Bossier City has six casinos and a racetrack. Margaritaville is the newest, opening in 2013.
Situated adjacent to the Louisiana Boardwalk, Margaritaville features a single level, 26,600 square-foot casino, offering more than 1,200 slot machines and 50 table games, including high limit gaming areas.
Resort amenities include a 395-room hotel, six food and/or beverage venues, a spa, fitness center and pool, meeting and conference space, a 1,000 seat multi-use performance hall and parking for over 1,500 vehicles. Since opening, the property has won numerous awards in many types of design and service categories from a variety of regional gaming and hospitality publications.
About the Poarch Band of Creek Indians
The Poarch Band of Creek Indians are descendants of a segment of the original Creek Nation, which once covered almost all of Alabama and Georgia. Members of the Tribe have lived together for almost 200 years in and around the reservation in Poarch, Ala.
About PCI Gaming and Wind Creek Hospitality
PCI Gaming, which does business as Wind Creek Hospitality, is an authority of the Poarch Band of Creek Indians. Wind Creek Hospitality manages the Tribes gaming facilities including: Wind Creek Atmore, Wind Creek Wetumpka, Wind Creek Montgomery as well as multiple racetracks in Alabama and Florida.
ORIGINAL STORY:
An Indian tribe is looking to move into the Shreveport-Bossier market and wants to buy Margaritaville casino.
The Alabama-based tribe and Margaritaville are seeking approval from the state to buy the Bossier City casino, sources tell KTBS News. The application for a change of ownership for Margaritaville is under review by Louisiana State Police, who will send their findings to the state gaming board, which would have to approve the purchase.
Spokesmen for the Poarch Band of Creek Indians and for Margaritaville declined immediate comment, saying they would release details later.
Shreveport-Bossier City has six casinos and a racetrack. Margaritaville is the newest, opening in 2013.
One person familiar with the Margaritaville situation said an Indian tribe had tried to buy Diamond Jacks casino in Bossier City, which this week was bought by Los Angeles-based investment firm Peninsula Pacific, which provides money to businesses.
In a statement announcing the sale of Diamond Jacks, Peninsula Pacific did not say what its long-term plans are for the Bossier City casino.
If the sale of Margaritaville goes through, it would be the first Indian-owned casino in the Shreveport-Bossier market. There are three land-based Indian-owned casinos in central and south Louisiana.
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