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Lady Luck Casino Vicksburg
Location Vicksburg, Mississippi
Opening dateJuly 12, 1994
No. of rooms89[1]
Total gaming space25,000 sq ft (2,300 m2)[1]
Casino typeLand-based
OwnerEldorado Resorts
Previous namesRainbow Casino
Websitewww.ladyluckvicksburg.com

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[edit]

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]

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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]

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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]

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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] In July 2019, Eldorado agreed instead to sell the property to Twin River Worldwide Holdings, along with the Isle of Capri Casino Kansas City, for a total of $230 million.[25] The deal was made to help finance Eldorado's pending acquisition of Caesars Entertainment.[25]

See also[edit]

Casino

References[edit]

  1. ^ abcWally Northway (2010-04-06). 'Isle of Capri buys Rainbow Casino'. Mississippi Business Journal.
  2. ^Howard Stutz (2010-04-06). 'Isle of Capri acquires casino in Mississippi'. Las Vegas Review-Journal.
  3. ^'Isle of Capri buys Mississippi casino'. BusinessWeek. 2010-04-06.
  4. ^'N.J. firm signs pact for Vicksburg casino'. The Advocate. Baton Rouge: via NewsBank. AP. September 28, 1993. Retrieved 2012-06-14.(subscription required)
  5. ^Taylor, Louise (February 18, 1994). 'Lady Luck gets approval at Coahoma'. The Sun Herald. Biloxi: via NewsBank. Retrieved 2012-06-14.(subscription required)
  6. ^'Six Flags plans Vicksburg park'. The Commercial Appeal. Memphis: via NewsBank. AP. February 23, 1995. Retrieved 2012-06-14.(subscription required)
  7. ^ ab'Utd Gaming to acquire 45% stake in partnership'. Dow Jones News Service. via Factiva. July 13, 1994. Retrieved 2012-06-14.(subscription required)
  8. ^'Vicksburg welcomes 4th casino'. The Sun Hearld. Biloxi: via NewsBank. AP. July 13, 1994. Retrieved 2012-06-14.(subscription required)
  9. ^Form 10-K (Report). Alliance Gaming. September 28, 1995. p. F-18. Retrieved 2012-06-14.
  10. ^Faust, Fred (May 15, 1995). '4 operators share Vicksburg'. St. Louis Post-Dispatch. via NewsBank. Retrieved 2012-06-14.(subscription required)
  11. ^Form 10-K (Report). AmeriHost Properties. March 24, 2000. p. 6. Retrieved 2012-06-15.
  12. ^Form 10-K (Report). Arlington Hospitality. March 31, 2003. p. 39. Retrieved 2012-06-15.
  13. ^Form 10-K (Report). Alliance Gaming. September 28, 1995. Casino Operations. Retrieved 2012-06-14.
  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)
  15. ^Johnson, Greg (March 23, 1997). 'The Players'. Los Angeles Times. Retrieved 2012-06-15.
  16. ^'Funtricity Family Entertainment Park to close' (Press release). Premier Parks (via Factiva). September 11, 1998. Retrieved 2012-06-14.(subscription required)
  17. ^Form 10-K (Report). Alliance Gaming. September 28, 1999. Casino Operations. Retrieved 2012-06-15.
  18. ^Purpura, Paul (June 20, 1999). 'Rainbow approaches 5th anniversary'. Associated Press Newswires. via Factiva. Retrieved 2012-06-14.(subscription required)
  19. ^ ab'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)
  20. ^Hamerman, Joshua (December 4, 2006). 'More gaming M&A deals: A safe bet'. Mergers & Acquisitions Report. via HighBeam. Archived from the original on March 7, 2016. Retrieved 2012-06-15.(subscription required)
  21. ^Stutz, Howard (June 9, 2010). 'Isle of Capri completes $80 million casino purchase'. Las Vegas Review-Journal. Retrieved 2012-06-13.
  22. ^'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.
  23. ^Hidalgo, Jason (March 1, 2018). 'Eldorado Resorts agrees to sell two casinos in Pennsylvania and Mississippi'. Reno Gazette Journal. Retrieved 2018-03-01.
  24. ^Marty Finley (July 9, 2018). 'Churchill Downs Inc. terminates plan to purchase casino'. Louisville Business First. Retrieved 2018-07-13.
  25. ^ abBailey Schulz (July 11, 2019). 'Eldorado Resorts to sell 2 properties in preparation of Caesars deal'. Las Vegas Review-Journal. Retrieved 2019-07-13.

External links[edit]

Coordinates: 32°17′40″N90°54′53″W / 32.294313°N 90.914736°W

Lady Luck Casino Huron Sd Newspaper

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