Bally's Vicksburg
| Lady Luck Casino Vicksburg | |
|---|---|
| Location | Vicksburg, Mississippi |
| Opening date | July 12, 1994 |
| No. of rooms | 89[1] |
| Total gaming space | 25,000 sq ft (2,300 m2)[1] |
| Casino type | Land-based |
| Owner | Eldorado Resorts |
| Previous names | Rainbow Casino |
| Website | vicksburg |
The Lady Luck Casino Vicksburg in Vicksburg, Mississippi is a 25,000-square-foot (2,300 m2) casino with an 89-room hotel.[1][2] It is owned and operated by Eldorado Resorts.[3]
History
The project was initiated by the Rainbow Casino Corporation (RCC), made up of John A. Barrett and Leigh Seippel. Hospitality Franchise Systems agreed to provide $7.5 million in financing, and to franchise a hotel at the property under its Days Inn brand.[4] Six Flags agreed to build a 10-acre theme park named Pennants.[5][6] United Gaming (later known as Alliance Gaming, and then Bally Technologies) signed on to manage the casino.[7]
The Rainbow Casino opened on July 12, 1994, with 574 slot machines and 28 table games.[8] United Gaming took a 45 percent ownership stake on the day it opened.[7] It took a controlling stake the following year, after RCC failed to finance elements of the casino that it was responsible for.[9]
The hotel, owned by AmeriHost, opened in May 1995, and the company called it "the most upscale Days Inn anywhere".[10] It was rebranded as an AmeriHost Inn by 2000,[11] and in 2002 it was sold to AmeriHost's former chairman, Michael P. Holtz.[12]
The theme park, renamed as Funtricity Entertainment Park, also opened in May 1995.[13] Six Flags designed it as the flagship in a new chain of entertainment centers, targeted at markets too small to support a full-size park;[14] within two years, though, the concept was reportedly put on hold.[15] The park closed in 1998,[16] and Alliance bought the site for $500,000[17] and adapted its main building for use as a concert venue.[18]
A casino expansion was completed in 1999, increasing the number of slot machines from 725 to over 1,000.[19]
In 1999, United Gaming put the property, along with its other casino in Nevada, on the market, to help pay down corporate debts, but no satisfactory offers were received.[19]
Bally put the Rainbow back on the market in 2006.[20] In 2010, a sale was finally made to Isle of Capri Casinos for $80 million.[21] Isle of Capri rebranded the property under its Lady Luck name in November 2012.[22]
In March 2018, Eldorado Resorts (which had acquired Isle of Capri Casinos in 2017) agreed to sell the property to Churchill Downs Inc., owner of the neighboring Riverwalk Casino, for $51 million.[23] The sale was canceled, however, as a result of inquiries from antitrust regulators.[24]
See also
References
- ^ a b c Wally Northway (2010-04-06). "Isle of Capri buys Rainbow Casino". Mississippi Business Journal.
- ^ Howard Stutz (2010-04-06). "Isle of Capri acquires casino in Mississippi". Las Vegas Review-Journal.
- ^ "Isle of Capri buys Mississippi casino". BusinessWeek. 2010-04-06.
- ^ "N.J. firm signs pact for Vicksburg casino". The Advocate. Baton Rouge: via NewsBank. AP. September 28, 1993. Retrieved 2012-06-14. (subscription required)
- ^ Taylor, Louise (February 18, 1994). "Lady Luck gets approval at Coahoma". The Sun Herald. Biloxi: via NewsBank. Retrieved 2012-06-14. (subscription required)
- ^ "Six Flags plans Vicksburg park". The Commercial Appeal. Memphis: via NewsBank. AP. February 23, 1995. Retrieved 2012-06-14. (subscription required)
- ^ a b "Utd Gaming to acquire 45% stake in partnership". Dow Jones News Service. via Factiva. July 13, 1994. Retrieved 2012-06-14. (subscription required)
- ^ "Vicksburg welcomes 4th casino". The Sun Hearld. Biloxi: via NewsBank. AP. July 13, 1994. Retrieved 2012-06-14. (subscription required)
- ^ Form 10-K (Report). Alliance Gaming. September 28, 1995. p. F-18. Retrieved 2012-06-14.
- ^ Faust, Fred (May 15, 1995). "4 operators share Vicksburg". St. Louis Post-Dispatch. via NewsBank. Retrieved 2012-06-14. (subscription required)
- ^ Form 10-K (Report). AmeriHost Properties. March 24, 2000. p. 6. Retrieved 2012-06-15.
- ^ Form 10-K (Report). Arlington Hospitality. March 31, 2003. p. 39. Retrieved 2012-06-15.
- ^ Form 10-K (Report). Alliance Gaming. September 28, 1995. Casino Operations. Retrieved 2012-06-14.
- ^ McCann, Nita Chilton (May 29, 1995). "Flagship location of Six Flags' newest attraction comes to Vicksburg". Mississippi Business Journal. via Factiva. Retrieved 2012-06-15. (subscription required)
- ^ Johnson, Greg (March 23, 1997). "The Players". Los Angeles Times. Retrieved 2012-06-15.
- ^ "Funtricity Family Entertainment Park to close" (Press release). Premier Parks (via Factiva). September 11, 1998. Retrieved 2012-06-14. (subscription required)
- ^ Form 10-K (Report). Alliance Gaming. September 28, 1999. Casino Operations. Retrieved 2012-06-15.
- ^ Purpura, Paul (June 20, 1999). "Rainbow approaches 5th anniversary". Associated Press Newswires. via Factiva. Retrieved 2012-06-14. (subscription required)
- ^ a b "Few serious offers may pull Rainbow Casino off market". The Commercial Appeal. Memphis: via NewsBank. AP. February 23, 2000. Retrieved 2012-06-15. (subscription required)
- ^ Hamerman, Joshua (December 4, 2006). "More gaming M&A deals: A safe bet". Mergers & Acquisitions Report. via HighBeam. Retrieved 2012-06-15. (subscription required)
- ^ Stutz, Howard (June 9, 2010). "Isle of Capri completes $80 million casino purchase". Las Vegas Review-Journal. Retrieved 2012-06-13.
- ^ "Lady Luck returns to Mississippi with re-branding of Vicksburg casino" (PDF) (Press release). Isle of Capri Casinos. November 30, 2012. Retrieved 2012-12-03.
- ^ Hidalgo, Jason (March 1, 2018). "Eldorado Resorts agrees to sell two casinos in Pennsylvania and Mississippi". Reno Gazette Journal. Retrieved 2018-03-01.
- ^ Marty Finley (July 9, 2018). "Churchill Downs Inc. terminates plan to purchase casino". Louisville Business First. Retrieved 2018-07-13.