By the numbers: Baton Rouge’s three riverboat casinos took in $25.7 million in April, 6.7% more than it did for the same month last year, when winnings totaled roughly $24 million. L’Auberge Baton Rouge had the largest increase in winnings—13%—on winnings of roughly $14.4 million last month, up from $12.7 million in April 2015. Belle of Baton Rouge’s winnings rose by $205,872, from roughly $5.3 million in April 2015 to roughly $5.5 million. Hollywood Casino, meanwhile, was the only riverboat to see a decline in its take. Hollywood reported an estimated $5.8 million in winning last month, compared to $6.1 million or the same month last year, a drop of 4.1%. See the full report.
Here’s the plan: Lafayette-based Double R Restaurant Group is expanding its portfolio of restaurants throughout the state and Capital Region. In a news release, the restaurant group says it has plans to develop six new Romacelli Bistro e Vino restaurants, five new Pour Restaurant and Bars, a new steakhouse concept and add 25 Another Broken Egg Cafe locations in the southeast through 2018. Some of the new restaurants will be located Gonzales, Central, Monroe, Youngsville, Lafayette and Lake Charles. A Romacelli Bistro e Vino will open in the second quarter of 2017 on Airline Highway in Baton Rouge, the company says.
Another one falls: SandRidge Energy has joined scores of energy companies seeking refuge from the oil crash in bankruptcy court, becoming one of the largest U.S. shale drillers to succumb to the downturn. FuelFix.com reports the Oklahoma City-based oil company is seeking Chapter 11 bankruptcy protection with a plan in place to turn $3.7 billion in debt to stock, it announced Monday. It has about $4 billion in debt and $7 billion in assets, according to court papers. The firm, which has about 800 employees, plans to put up its oil and gas reserves as collateral for a $425 million loan and acquire another $300 million in debt that will at some point convert to equity. It said it would have enough capital to keep running its oil and gas operations, which are mainly in Oklahoma and Texas. Read the full story.
