Boyd Gaming<\/a> is revamping its Treasure Chest Casino in the New Orleans suburb of Kenner, while Caesars recently transitioned the Isle in Lake Charles to its venerable Horseshoe brand. Harrah\u2019s New Orleans is amid a $325 million renovation, and will eventually take the Caesars’ name. Jonas forecasts that each endeavor will generate the return on investment necessary to justify the capital spent.<\/p>\n<\/div>\n“Horseshoe Lake Charles \u201cshould show a more finalized product and a clearer picture of what market share could look like. Management is already exploring expanding Horseshoe\u2019s hotel (253 rooms are around half of the property\u2019s pre-hurricane count and ~8% of the market). While we think the Horseshoe is a major upgrade from Isle and have no doubt the property will meet management\u2019s [return on investment] objectives ($50M in 2023),\u201d concluded the analyst.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Gulf Coast casino market, which consists primarily of Louisiana and Mississippi venues, is holding up relatively against a challenging macroeconomic backdrop. That\u2019s the take of Truist Securities analyst Barry Jonas, who recently visited casinos in the Louisiana markets of Baton Rouge, La., Lake Charles, La., New Orleans and Mississippi’s Biloxi. He observed limited vulnerability […]<\/p>\n","protected":false},"author":46,"featured_media":157810,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,84799],"tags":[81897,81903,83571],"acf":[],"yoast_head":"\n
Gulf Coast Casinos Steady Amid Economic Challenges<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n