Casino developers announce an additional $75M investment for proposed Slidell casino
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Before the proposed Slidell casino goes before St. Tammany Parish voters in October, Peninsula Pacific Entertainment announces they plan to invest even more than initially proposed to the casino site. St. Tammany Corporation CEO Chris Masingill said a $75-million investment alone is pretty significant.
“You add that on top of the $250, now we’re at $325-million being invested into our local economy and we’re certainly excited to hear that,” said Masingill.
Masingill said P2E has made historic economic commitments to the area, for example, a five percent of gaming share revenue to the area, which is the highest negotiated rate in the state’s history.
“On top of that Peninsula is joining us in a public-private partnership to build a significant sports tourism complex, a $35-million project in and of itself, that would be based in east St. Tammany Parish,” said Masingill.
P2E has also made a 50-percent guarantee to hire St. Tammany Parish residents. Masingill said jobs will run the gamut from hospitality to casino operations, and IT.
“They want to recruit members to be a part of their company and stay with them. The average wages are $45,000 and they come with benefits,” said Masingill.
P2E estimates nearly 1,000 direct jobs during the operation of the casino. If approved by voters, the venue would open in the first quarter of 2023.
