Eldorado Resorts Inc. has won the backing of state regulators to take full control of a Shreveport casino-hotel in a $9.2 million deal with a bondholders group.
Reno, Nev.-based Eldorado will acquire the group's 23.6 percent interest in the complex. The Louisiana Gaming Control Board approved the deal Tuesday.
The casino, originally known as Hollywood Casino, opened in 2000 but failed to live up to expectations. Shortly after its purchase by Penn National Gaming Inc., the casino went into default on $189 million in bonds and notes. Penn National put the casino up for sale after negotiations with bondholders failed.
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Gambling Factoid #26: The name 'pai gow' is loosely translated as 'makes nine' or 'card nine' and has been played in China since the Song Dynasty (960-1279 A.D.). Pai gow is played with a set of tiles; pai gow poker is loosely based on the original game.
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