Management of Lady Luck Casino to change hands
Shareholders of the company that manages Lady Luck casino at Nemacolin Woodlands will meet later this month to approve its $950 million merger with a Reno, Nevada-based gaming company.
Eldorado Resorts Inc. is acquiring St. Louis-based Isle of Capri Casinos Inc. in a deal that will add 20 properties in 10 states. The Nevada company currently owns Presque Isle Downs & Casino in Erie, as well as Mountaineer Casino Racetrack & Resort in New Cumberland, West Virginia.
Suzanne Trout, an Eldorado spokesperson, said shareholders from both companies will meet Jan. 25 to vote on the merger, which is expected to be completed by April.
Officials from Nemacolin referred comment to Isle of Capri.
“It is business as usual as our team continues to provide the gaming experience our customers expect,” said Jill Alexander, an Isle of Capri spokesperson.
Lady Luck was opened in July 2013 by Isle of Capri, which invested $60 million in partnership with the four-star Farmington resort. The casino features 600 slot machines and roughly 30 gaming tables. The Pennsylvania Gaming Control Board renewed Lady Luck’s license last month for another three years.
Lady Luck, one of 12 casinos in Pennsylvania, is a Category 3 or resort casino, a designation it only shares with Valley Forge Casino. To play at Lady Luck, you must either be an overnight guest at the resort, a patron of Nemacolin’s amenities, or a visitor who makes a $10 purchase on the property.
Trout said Eldorado has no detailed plans when it takes over management of the casino and added that patrons won’t notice any significant change. But, any change in casino management would have to be approved by the state, said Douglas Harbach, a spokesman for the state’s gaming board.
Since it opened, Lucky Lady has generated $112 million in gross revenue, with a return of $53 million in gaming revenue for the state.