Margaritaville Resort Casino financing complete

BOSSIER CITY, LA (KSLA) - The Bossier Casino Venture announced the successful closing of its project financing Thursday for the Margaritaville Resort Casino to be built in Bossier City.

Gremillion and Pou Marketing Account Coordinator Matt Dockendorf says construction on the $197 million casino and hotel resort is expected to begin immediately and last for about 16 months, with an expected opening date in June 2013. Houlihan Lokey and Macquarie Capital served as joint-bookrunners on the project financing.

Dockendorf says the resort will feature a 30,000 square foot, single-level gaming floor, unlike the other existing riverboat gaming facilities in the Shreveport-Bossier City market. The casino will include over 1,300 slot machines, 46 table games as well as the famous "It's 5 O'Clock Somewhere" bar. The project will also feature a 396-room, 18 story hotel, a 900-seat state of the art entertainment venue, spa and fitness center, outdoor pool deck and dining area, dramatic landscaping and four food & beverage outlets, including the trademark Margaritaville Restaurant.

"We are excited to begin construction on our Margaritaville Resort Casino, which will combine the care-free, island lifestyle theme of Margaritaville with a 'Las Vegas' style gaming experience and enable the Shreveport-Bossier City gaming market to experience major growth," said Paul Alanis, President and Chief Executive Officer, and former Chief Executive Officer of Pinnacle Entertainment, Inc.

Dockendorf says Margaritaville will be the sixth casino in the Shreveport-Bossier City gaming market and the first new facility in more than a decade. Dockendorf says the Margaritaville Resort Casino in Bossier City will be the third and largest Margaritaville-themed casino, with one location open in Las Vegas, Nevada and another expected to open within the next few months in Biloxi, Mississippi. The Margaritaville Resort Casino project will be located on the Red River.

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