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Casino Vicksburg, formerly 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 Bally's Corporation.

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.^[3]Six Flags agreed to build a 10-acre theme park named Pennants.^[4][5]United Gaming (later known as Alliance Gaming, and then Bally Technologies) signed on to manage the casino.^[6]

The Rainbow Casino opened on July 12, 1994, with 574 slot machines and 28 table games.^[7] United Gaming took a 45 percent ownership stake on the day it opened.^[6] It took a controlling stake the following year, after RCC failed to finance elements of the casino that it was responsible for.^[8]

The hotel, owned by AmeriHost, opened in May 1995, and the company called it 'the most upscale Days Inn anywhere'.^[9] It was rebranded as an AmeriHost Inn by 2000,^[10] and in 2002 it was sold to AmeriHost's former chairman, Michael P. Holtz.^[11]

The theme park, renamed as Funtricity Entertainment Park, also opened in May 1995.^[12] 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;^[13] within two years, though, the concept was reportedly put on hold.^[14] The park closed in 1998,^[15] and Alliance bought the site for $500,000^[16] and adapted its main building for use as a concert venue.^[17]

A casino expansion was completed in 1999, increasing the number of slot machines from 725 to over 1,000.^[18]

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.^[18]

Bally put the Rainbow back on the market in 2006.^[19] In 2010, a sale was finally made to Isle of Capri Casinos for $80 million.^[20] Isle of Capri rebranded the property under its Lady Luck name in November 2012.^[21]

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.^[22] The sale was canceled, however, as a result of inquiries from antitrust regulators.^[23] 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.^[24] The deal was made to help finance Eldorado's pending acquisition of Caesars Entertainment.^[24] The sale to Twin River (later Bally's Corporation) closed in July 2020, and the property was renamed as Casino Vicksburg.^[25]

See also[edit]

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. ^'N.J. firm signs pact for Vicksburg casino'. The Advocate. Baton Rouge: via NewsBank. AP. September 28, 1993. Retrieved 2012-06-14.(subscription required)
4. ^Taylor, Louise (February 18, 1994). 'Lady Luck gets approval at Coahoma'. The Sun Herald. Biloxi: via NewsBank. Retrieved 2012-06-14.(subscription required)
5. ^'Six Flags plans Vicksburg park'. The Commercial Appeal. Memphis: via NewsBank. AP. February 23, 1995. Retrieved 2012-06-14.(subscription required)
6. ^ ^ab'Utd Gaming to acquire 45% stake in partnership'. Dow Jones News Service. via Factiva. July 13, 1994. Retrieved 2012-06-14.(subscription required)
7. ^'Vicksburg welcomes 4th casino'. The Sun Hearld. Biloxi: via NewsBank. AP. July 13, 1994. Retrieved 2012-06-14.(subscription required)
8. ^Form 10-K (Report). Alliance Gaming. September 28, 1995. p. F-18. Retrieved 2012-06-14.
9. ^Faust, Fred (May 15, 1995). '4 operators share Vicksburg'. St. Louis Post-Dispatch. via NewsBank. Retrieved 2012-06-14.(subscription required)
10. ^Form 10-K (Report). AmeriHost Properties. March 24, 2000. p. 6. Retrieved 2012-06-15.
11. ^Form 10-K (Report). Arlington Hospitality. March 31, 2003. p. 39. Retrieved 2012-06-15.
12. ^Form 10-K (Report). Alliance Gaming. September 28, 1995. Casino Operations. Retrieved 2012-06-14.
13. ^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)
14. ^Johnson, Greg (March 23, 1997). 'The Players'. Los Angeles Times. Retrieved 2012-06-15.
15. ^'Funtricity Family Entertainment Park to close' (Press release). Premier Parks (via Factiva). September 11, 1998. Retrieved 2012-06-14.(subscription required)
16. ^Form 10-K (Report). Alliance Gaming. September 28, 1999. Casino Operations. Retrieved 2012-06-15.
17. ^Purpura, Paul (June 20, 1999). 'Rainbow approaches 5th anniversary'. Associated Press Newswires. via Factiva. Retrieved 2012-06-14.(subscription required)
18. ^ ^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)
19. ^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)
20. ^Stutz, Howard (June 9, 2010). 'Isle of Capri completes $80 million casino purchase'. Las Vegas Review-Journal. Retrieved 2012-06-13.
21. ^'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.
22. ^Hidalgo, Jason (March 1, 2018). 'Eldorado Resorts agrees to sell two casinos in Pennsylvania and Mississippi'. Reno Gazette Journal. Retrieved 2018-03-01.
23. ^Marty Finley (July 9, 2018). 'Churchill Downs Inc. terminates plan to purchase casino'. Louisville Business First. Retrieved 2018-07-13.
24. ^ ^abBailey Schulz (July 11, 2019). 'Eldorado Resorts to sell 2 properties in preparation of Caesars deal'. Las Vegas Review-Journal. Retrieved 2019-07-13.
25. ^Bailey Schulz (July 2, 2020). 'Eldorado sells 2 properties ahead of Caesars merger'. Las Vegas Review-Journal. Retrieved 2020-07-02.

External links[edit]

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

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