Penn Entertainment has announced plans to invest approximately $195m to relocate its Boomtown Casino & Hotel New Orleans riverboat operations to a new landside property on adjacent land.
The property is also set to be rebranded as Hollywood Casino New Orleans, pending regulatory approval.
Recently, Penn reported Q2 2026 results showing $1.85bn in revenue, up 5.2% year-on-year, and a return to profitability with $32.6m in net income, compared with an $18.3m loss a year earlier. For the first half of 2026, revenue reached $3.63bn.
If approved, the new property is expected to open in 2029, spanning roughly 140,000 square feet with about 875 slot machines, 45 table games, a retail sportsbook and multiple dining options. The existing riverboat will close once the new property opens, though Penn said it currently plans to keep the existing hotel open.
"This investment reflects our disciplined approach to capital allocation, prioritizing organic growth opportunities that build on our operational strengths and are expected to deliver compelling returns," said Jay Snowden, Penn’s CEO and President.
“The new Hollywood Casino New Orleans will represent our fourth landside move in recent years, following the recent openings of Hollywood Casino Aurora and Hollywood Casino Joliet in Illinois and the expected opening of Hollywood Casino Council Bluffs in Iowa in 2028.”
Snowden added the company is looking forward to working with the Louisiana Gaming Control Board and Jefferson Parish Council to bring the project forward, and expects to fund it mainly through cash on hand, with its balance sheet available as a backstop if needed.
Penn Entertainment previously opened Hollywood Casino and Hotel Aurora, representing a $360m investment in the Chicago-area market
