Bossier City Supports Live! Casino Expansion with Tax Breaks to Boost Local Economy

Bossier City Eyes Bright Future with Live! Casino Expansion

In a move that’s making waves across the local community, the Bossier Parish School Board has teamed up with other local taxing bodies to offer a tax break to the Live! Casino and Hotel. The idea? To motivate the casino to jumpstart an impressive expansion project that could bring even more excitement and benefit to the area.

The Numbers Behind the Expansion

Live! Casino is gearing up to invest a whopping $250 million into the construction and renovation of its gaming facility. This isn’t just about enhancing the casino experience; the plans include adding more hotel rooms and suites, a brand new restaurant and bar, and even an RV park. Plus, let’s not forget the upgrades to the pool facilities that are expected to take this popular spot to the next level.

Incentives to Compete

Patrick Jackson, an attorney for the Bossier Parish Police Jury, explained the rationale behind the tax break to the school board. “This is an incentive to try to get Live! Casino to invest an additional $20 million into their property,” he said. The timing is crucial, especially since Texas is on the verge of legalizing gambling, a move that has raised some eyebrows around here. The message is clear: Bossier City wants to ensure that its gaming venues remain competitive.

Building a Destination

Jackson emphasized that the goal is to transform Bossier into a top-tier destination for entertainment. He remarked, “We’re trying to encourage all the gaming entities to build their non-gaming amenities up to a place where it becomes a resort, a destination.” This sentiment was echoed by school board members, who are keen to see the community flourish.

A Blast from the Past

Jackson also brought up an interesting historical point: the Horseshoe Hotel and Casino received a similar tax break almost three decades ago. Back then, the Horseshoe had plans for a modest five-story casino, but thanks to a tax abatement deal that incentivized growth, they ended up constructing a spectacular 20-story casino. “The overall net effect to all the taxing entities with their investment is a huge gain,” Jackson noted. That success story is a beacon of hope for what could come from Live!’s expansion.

The Agreement in Action

During the meeting, questions arose about the details of the tax agreement. Superintendent Jason Rowland inquired how long the tax structure might last, and Jackson clarified that it would be a ten-year process for recouping the upfront costs. “So for 10 years, we would have paid ad valorem tax on $20 million of their total $297 million investment,” he confirmed.

A Unanimous Decision

With a unanimous vote, the school board approved the agreement, signaling strong support for this initiative. The future looks bright indeed for Bossier City as it positions itself to grow and compete in the booming gaming industry. With Live! Casino planning to push forward with its expansion, local residents can look forward to an even more vibrant entertainment scene.

Community Welcomes Change

The buzz around town is palpable as folks begin to imagine what these developments could mean for the local community. Many see this as a chance to not just enhance local businesses, but also attract tourists and create jobs in the region. With all of these exciting plans in the works, Bossier City seems set for a new chapter filled with opportunities.

Stay tuned as the city prepares to make this vision a reality!