Rolling on: LSU and Southern University both want to begin growing marijuana for medical use. The Associated Press reports the boards of both schools approved plans Friday to pursue licensing. It would make them the sole growers and researchers for the state. This spring, the Louisiana Legislature widened the state’s medical marijuana laws, making the treatment available to a wider range of people with debilitating diseases. LSU plans to seek private funding for what could by a $10 million production center, and has studied production in Colorado, which has legalized marijuana. LSU’s facility is expected to be built on private land not adjacent to a campus. Read the full story.
New boss: A Los Angeles investment group is buying DiamondJacks Casino in Bossier City. Peninsula Pacific announced the purchase Wednesday, disclosing no price. The Associated Press reports the casino had been owned by creditors since emerging from bankruptcy in 2013. Faced with recovering little of the $300 million owed if they liquidated Louisiana and Mississippi casinos, creditors kept running them. Peninsula Pacific’s M. Brent Stevens, a veteran casino operator, says his company bought DiamondJacks’ debt late last year. Stevens says he wants to improve operations and plans renovations. DiamondJacks typically collects the least revenue of six full-fledged casinos in northwest Louisiana. It’s unclear if Peninsula Pacific will rebrand or cut employees.
On the water: Gretna will be the new headquarters for riverboat tour company French America Line and its marketing, sales and reservations partner, Uncommon Journeys, company and state officials announced Friday. The move is expected to create 94 jobs with an annual estimated payroll of $2.1 million for a mix of seasonal, hourly and salaried employees. Louisiana Economic Development also estimates 47 indirect jobs to be created from this move. French America Line and Uncommon Journeys will both use office space in the Business Innovation Center of the Jefferson Parish Economic Development Commission in the Churchill Technology and Business Park in Avondale. JEDCO and the City of Gretna, in partnership with LED, are providing an incentive package that includes site selection support, and the company is expected to apply for the state’s Quality Jobs Program.
