PENN Entertainment Sets $195 Million Conversion of Boomtown New Orleans Riverboat to Land-Based Hollywood Casino
TL;DR — PENN Entertainment will spend $195 million to convert its Boomtown Casino New Orleans riverboat to a land-based Hollywood Casino opening in 2029 with 875 slots, 45 tables and a sportsbook. The move follows three prior riverboat-to-land shifts. Approval from Louisiana regulators is required before the existing vessel vacates.
SCCG Take — The conversion extends PENN’s organic growth playbook, shifting from riverboat limits to land-based scale in a key market while preserving the hotel asset.
PENN Entertainment will invest $195 million to relocate its Boomtown Casino New Orleans riverboat to an adjacent landside site and rebrand it as Hollywood Casino New Orleans. The project requires approval from the Louisiana Gaming Control Board and Jefferson Parish Council. The existing riverboat will vacate upon the new property opening while the hotel remains operational.
The land-based facility is scheduled to open in 2029. Plans call for roughly 140,000 square feet of development containing approximately 875 slot machines, 45 table games, a retail sportsbook and multiple dining options. This marks the fourth such riverboat-to-land conversion for the operator after Hollywood Casino Aurora and Hollywood Casino Joliet in Illinois plus the planned Hollywood Casino Council Bluffs opening in Iowa in 2028.
Project Parameters and Commitments
Jay Snowden, CEO and President of PENN Entertainment, stated: “This investment reflects our disciplined approach to capital allocation, prioritising organic growth opportunities that build on our operational strengths and are expected to deliver compelling returns.” Snowden added that the new Hollywood Casino New Orleans will enhance the customer experience and strengthen the property’s competitive position in the New Orleans market. PENN operates four other casino destinations in Louisiana, employs over 3,500 Louisianans and contributes over $200 million in state and local taxes annually.
Capital Structure and Next Milestones
The company expects to finance the project with cash on hand but may also access its balance sheet or other sources of liquidity. Regulatory clearance remains the binding condition before construction can advance. According to G3 Newswire, the timeline positions the property to capture incremental demand once operational. Operators in similar jurisdictions will track whether the land-based format lifts hold percentages beyond riverboat constraints observed in prior conversions.
Reporting: G3 Newswire
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
Fourth riverboat-to-land play proves PENN's organic growth model: upgrade the box, drop the boat, chase better margins.
We've watched three of these PENN conversions already—Aurora, Joliet, Council Bluffs. The playbook works: ditch riverboat limits, expand the floor, rebrand under Hollywood, and let the property breathe. New Orleans is a proven market, and this $195 million bet signals confidence in Louisiana's long-term gaming fundamentals despite regulatory friction.
- 140,000 sq ft land-based facility: 875 slots, 45 tables, sportsbook by 2029
- Fourth such conversion for PENN after Illinois and Iowa projects
- Louisiana Gaming Control Board approval required before construction starts
SCCG angle: SCCG has guided operators through every stage of land-based transitions—regulatory strategy, vendor selection, tech stack integration. Our Louisiana connections and track record in gaming transformation mean we know who moves these projects from approval to ribbon-cutting without bleeding budget or timeline.
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