Bossier Casino Venture Inc., which does business in the Shreveport-Bossier City market as Margaritaville Resort Casino, said Monday its pending merger with Wind Creek Hospitality has been terminated.
One of the requirements of the agreement was for the casino to be operated under the Wind Creek rather than Margaritaville brand, as it has since 2011. "This requirement was unable to be met," the casino company said in a statement.
News reports earlier this month said the casino has an agreement with the owner of the Margaritaville brand for the name to be in place for another 35 years.
Bossier Casino Venture will be required to pay Margaritaville two years of license fees and interest, under terms of a recent arbitration, and will continue using the brand without further financial obligation, CEO Paul Alanis said in a statement.
Wind Creek Hospitality is the casino division of the the Poarch Band of Creek Indians. It had entered into the agreement to purchase the casino in June.