Louisiana's Treasure Chest Near New Orleans to Unveil Land-Based Casino
The Treasure Chest Casino, situated in Kenner, Louisiana, will shortly transition from its familiar riverboat to a brand-new brick-and-mortar property situated a stone's throw away from Lake Pontchartrain's shore.
Boyd Gaming, a renowned Vegas-based gaming operator, has managed this riverboat since its inception in 1994.
In early 2022, Boyd Gaming unveiled plans for a $100 million venture to move the riverboat gaming onto dry land and establish a fresh land-based facility. This project is now complete, and the revamped Treasure Chest will shortly host its initial visitors.
The riverboat casino will cease operations at 11:59 p.m. CDT on June 1st.
The grand opening of the totally revamped Treasure Chest will be on June 8th at 8 a.m. The brick-and-mortar structure can be found at the end of Williams Blvd., roughly 1,000 feet from the dock where the riverboat presently resides.
Brick-and-Mortar Casinos
The upcoming Treasure Chest will boast around 47,000 square feet of gambling, almost double the 24,000 square feet available on board the boat. Over 900 slot machines and 20 live dealer table games are also in store. A FanDuel sportsbook is anticipated to open next month.
The land-based Treasure Chest aspires to emulate a Las Vegas-style resort, with multiple eateries such as a trademark sport bar and grill and a fine dining steakhouse. It also aims to attract business and social events with about 10,000 square feet of customizable space.
The Treasure Chest will join three other land-based casinos that recently opened in Louisiana subsequent to state lawmakers updating the state's gaming legislation in 2018. These adaptations permit licensed riverboats to invest in brick-and-mortar developments as long as the new casinos are within 1,200 feet of their original barges.
Other land-based Louisiana casinos comprise Harrah's New Orleans, Horseshoe Lake Charles, and The Queen Baton Rouge. An additional brick-and-mortar facility is in the works in Bossier City.
According to a statement from Boyd Gaming, the restructured casino "will offer 47,000 square feet of gaming - nearly double the 24,000-square-foot space currently offered on board the boat, with more than 900 slot machines and two dozen live dealer table games. The new property will also feature a FanDuel Sportsbook, several dining options, an optimized entertainment destination, and 10,000 square feet of flexible space for meetings and events."
Competition in the Area
Although Harrah's New Orleans caters predominantly to tourists visiting New Orleans, the new Treasure Chest targets local residents. After locals in St. Tammany County rejected a referendum in 2021 suggesting a possible casino in Slidell, Boyd Gaming decided to invest in the property.
Throughout the 2023 fiscal year, which commenced on July 1, 2022, and concluded on June 30, 2023, Treasure Chest recouped $86.1 million from gamblers. This was a reduction of over 11% from the $97.2 million that the boat yielded in 2022.
The boat's revenue never managed to return to its pre-pandemic status.
In 2019, the Treasure Chest amassed a revenue of $108.3 million. The offshore location has seen a significant falloff in visitors, as only 556,824 guests attended in 2023 compared to the 969,744 guests in 2019 — a decline of almost 43%.
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