Baton Rouge's Belle Casino Acquires $141 Million Funding from its Landlord for an Inland Transfer
The riverboat Belle of Baton Rouge in Louisiana is set to transition into a land-based casino, replacing the riverboat gaming space.
In April 2023, Queen Casino & Entertainment Inc., formerly CQ Holding Company, revealed their plans to move the Belle of Baton Rouge to land. Queen Casino had already shifted its other Louisiana riverboat, The Queen Baton Rouge, to a new land-based facility through a $70 million investment last year.
Gaming and Leisure Properties, Inc. (GLPI), a real estate investment trust controlled by Penn Entertainment and the Belle's landlord, confirmed this week that they'll be primarily funding the casino's relocation. GLPI is set to commit $111 million to the project, of which is expected to cost $141 million or more. Queen Casino & Entertainment will cover the remaining $30 million.
Peter Carlino, chairman and CEO of GLPI, stated, "Following the success of our landslide move funding at The Queen Baton Rouge, we've agreed to provide financing for the hard costs related to Queen Casino & Entertainment's landslide move at the Belle. Queen Casino & Entertainment has demonstrated their capacity to introduce a novel gaming product to expand the overall gaming market, and we anticipate this project will follow a similar path."
GLPI will own the property of the new Belle of Baton Rouge and lease its operations to Queen Casino Entertainment at an increasing yearly rate. The initial rent figure has not been disclosed.
Colossal Restyling
The proposed refurbishment of the Belle of Baton Rouge is more elaborate than the adjustments made with The Queen Baton Rouge. While The Queen has a gaming venue, the Belle also includes a 250-room hotel.
The closure of the hotel's rooms took place in 2020, but renovation work has recently commenced. The Belle also has multiple restaurants and bars in the property's atrium, which is part of the project's renovation.
The Belle is stationed around a mile south of the Louisiana State Capitol and the Mississippi River. It's situated less than two miles north of the Louisiana State University Campus.
Revamping the casino's hotel rooms seems like a sound investment, considering Baton Rouge's hotels often get fully occupied during LSU Tigers home football games. Queen Entertainment's CEO, Terry Downey, says they're optimistic about the Baton Rouge market after witnessing increased gaming revenues following The Queen's reopening in its new land-based facility last August.
Downey emphasized, "We're very happy with The Queen's performance since its relaunch. Now that we're shifting our attention to the Belle, we're eager to recreate similar operational improvements from this land-based transfer."
Post-refurbishment, Downey plans to market the two properties together.
Atrium Gaming
Neither GLPI nor Queen Casino Entertainment has provided specifics on the Belle's revamp, but they've previously suggested that the atrium would become the new casino's location. reports indicated that the incoming Belle casino would feature around 350 slot machines and a dozen live dealer tables.
GLPI specifies that it's their casino tenants' responsibility to cover maintenance, insurance premiums, utilities, and property taxes.
