Jacobs Entertainment

{{Short description|Company in Colorado}} {{Use American English|date=March 2023}} {{Use mdy dates|date=March 2023}} {{Infobox company |name= Jacobs Entertainment, Inc. |logo= Jacobs Entertainment logo.png |traded_as= |slogan= |founded= |hq_location= Golden, Colorado, U.S. |key_people= {{nowrap| Jeff Jacobs, Chairman & CEO}} |founder= Jeff Jacobs |defunct= |industry= Gaming Entertainment Hospitality |products= Casinos Hotels Entertainment Restaurants |predecessor= |brands= |owner= |num_employees= |website={{URL|JacobsEntertainmentInc.com}} }} '''Jacobs Entertainment, Inc.''' is a gaming, hospitality, and entertainment company based in Golden, Colorado, with properties in Louisiana, Colorado, Nevada, and Ohio.<ref>{{cite web|title=Contact Us|publisher=Jacobs Entertainment|url=http://jacobsentertainmentinc.com/contact-us/|accessdate=2017-09-05}}</ref>

==History== The company was formed by Cleveland real estate developer and former Ohio state representative Jeff Jacobs.<ref name=solov>{{cite news|title=Ohio developers line up for shot at casinos|newspaper=The Plain Dealer|location=Cleveland, OH|author1=Diane Solov|author2=Bill Sloat|date=February 26, 1995|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F0F80842060F92468&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}</ref><ref>[https://jacobsentertainmentinc.com/story/ Executive Team - Jacobs Entertainment Inc.com]</ref> In 1995, it announced a joint venture with Black Hawk Gaming & Development to build a casino hotel in Black Hawk, Colorado.<ref>{{cite news|title=Black Hawk project to double in size|newspaper=Rocky Mountain News|location=Denver, CO|author=Lynn Bronikowski|date=January 4, 1995|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F0EB4E21940C87808&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}</ref> Jacobs was also reported to be exploring gaming opportunities in 10 other states, as well as South Africa and Aruba.<ref name=solov /> Later that year, the company purchased 50 percent of Colonial Downs, a horse track under development in New Kent, Virginia, for $5 million, and was negotiating to purchase River Downs, an Ohio horse track.<ref>{{cite news|title=Investor buys half of track|newspaper=Daily Press|location=Newport News, VA|agency=Associated Press|date=November 7, 1995|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F0EB4E97A97ADB7B2&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}</ref><ref>{{cite news|title=Live racing pledged for '96|newspaper=Richmond Times-Dispatch|author=John Markon|date=August 17, 1995|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F0EB4F9FD6134C83A&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}</ref>

In 1996, the company made a $9 million investment in the Boardwalk Casino on the Las Vegas Strip.<ref>{{cite news|title=Jeffrey Jacobs buys stake in Nevada casino|newspaper=The Plain Dealer|location=Cleveland, OH|author=Donald Sabath|date=July 17, 1996|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F0F808D066FBC6B35&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}</ref>

The Lodge Casino, the company's $73-million joint venture with Black Hawk Gaming, opened in 1998, with Jacobs owning a 25 percent share.<ref>{{cite news|title=Casino operator is good bet|newspaper=The Plain Dealer|location=Cleveland, OH|author=Bill Lubinger|date=August 30, 1998|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F0F80D06D8440C5E6&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}</ref>

[[File:Gilpin Casino.jpg|thumb|The Gilpin Casino in Black Hawk, Colorado.]] In 2002, Jacobs and his father, former Cleveland Indians owner Richard E. Jacobs, consolidated their gaming holdings into a reorganized Jacobs Entertainment, Inc., which simultaneously purchased all outstanding shares of Black Hawk Gaming & Development and Colonial Holdings.<ref name=10k2003>{{cite report|title=Form 10-K: Annual Report|publisher=Jacobs Entertainment|date=March 31, 2003|pages=2–3|url=https://www.sec.gov/Archives/edgar/data/1173284/000102140803005292/d10k.htm|via=EDGAR}}</ref> The combined company at that point owned The Lodge Casino and The Gilpin Casino in Black Hawk; The Gold Dust West Casino in Reno, Nevada; Colonial Downs racetrack; and six truck stop casinos in Louisiana.<ref name=10k2003 />

The company applied for a license to operate a casino in Orange County, Indiana, in 2003, but withdrew its bid in the face of stiff competition.<ref>{{cite news|title=Casino process in Orange County on a fast track|newspaper=The Herald-Times|location=Bloomington, IN|author1=Mike Lewis|author2=Roger Moon|date=November 16, 2003|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F14453CACAAC91448&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}</ref><ref>{{cite news|title=Casino applicant withdraws request|newspaper=The Times-Mail|location=Bedford, IN|author=Roger Moon|date=December 26, 2003|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F1476BBAABA57C698&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}</ref> It also made plans to develop a casino in D'Iberville, Mississippi, but pulled out of the project in 2004.<ref>{{cite news|title=D'Iberville sees plans for casino evaporate|newspaper=The Sun Herald|location=Biloxi, MS|author1=Tom Wilemon|author2=Anita Lee|date=October 21, 2004|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F105E7DFA5F4FF80E&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}</ref>

Jacobs held discussions about buying New York racetrack Vernon Downs in 2005, and Casino Aztar Caruthersville in Missouri in 2007, but neither acquisition materialized.<ref>{{cite news|title=Vernon Downs has new suitor|newspaper=The Post-Standard|location=Syracuse, NY|author=Glenn Coin|date=April 27, 2005|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F109C204E85263652&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}</ref><ref>{{cite news|title=Isle of Capri may buy Casino Aztar|newspaper=Kansas City Star|date=March 13, 2007|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F117DA84DB25F4768&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}</ref>

In 2006, Jacobs spent over $2 million in support of an Ohio ballot measure that would have authorized the company to open a casino at the Nautica Entertainment Complex, owned by Jeffrey Jacobs. The measure would ultimately fail.<ref>{{cite news|title=State voters again reject gambling issue|newspaper=The Cincinnati Post|author=John McCarthy|agency=Associated Press|date=November 8, 2006|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F1154D4AF78212018&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}</ref><ref>{{cite news|title=Issue 3 could boost downtown Developers putting money on proposal for gambling|newspaper=The Plain Dealer|location=Cleveland, OH|author=Tom Breckenridge|date=November 4, 2006|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F11535D2FA13B9568&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}</ref> In later years, Jacobs' expanded Cleveland properties would be collectively renamed as the Nautica Waterfront District.

Jacobs purchased the Piñon Plaza casino in Carson City, Nevada, in 2006 for $14.5 million, and rebranded it as the Gold Dust West Carson City.<ref>{{cite news|title=Piñon Plaza changes hands; to become Gold Dust West|newspaper=Nevada Appeal|author=Becky Bosshart|date=June 26, 2006|url=http://www.nevadaappeal.com/news/business/pion-plaza-changes-hands-to-become-gold-dust-west/|archiveurl=https://web.archive.org/web/20170906134952/https://www.nevadaappeal.com/news/business/pion-plaza-changes-hands-to-become-gold-dust-west/|archivedate=2017-09-06}}</ref> The company opened its third casino under the Gold Dust West name in Elko, Nevada, in 2007.<ref>{{cite news|title=Gold Dust West ready to open|newspaper=Elko Daily Free Press|author=Marianne Kobak|date=March 2, 2007|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F13C9B953ACA05100&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}</ref>

In 2008 and 2009, the company bought out the shares of Richard E. Jacobs, leaving his son as the sole owner.<ref>{{cite report|title=Form 10-K: Annual Report|publisher=Jacobs Entertainment|date=March 30, 2010|url=https://www.sec.gov/Archives/edgar/data/1173284/000110465910017285/a09-35866_110k.htm|page=F-23|via=EDGAR}}</ref>

The company acquired the Nautica Entertainment Complex from Jeffrey Jacobs in phases between 2008 and 2012.<ref>{{cite report|title=Form 10-Q: Quarterly Report|publisher=Jacobs Entertainment|date=August 13, 2012|url=https://www.sec.gov/Archives/edgar/data/1173284/000119312512352707/d344753d10q.htm|page=15|via=EDGAR}}</ref><ref>{{cite report|title=Form 10-K: Annual Report|publisher=Jacobs Entertainment|date=March 29, 2011|url=https://www.sec.gov/Archives/edgar/data/1173284/000119312511081269/d10k.htm|page=7|via=EDGAR}}</ref><ref>{{cite web|title=About Nautica Entertainment Complex|publisher=Nautica Entertainment Complex|url=http://www.nauticaflats.com/about-nautica-entertainment-complex/|accessdate=2017-09-08|archive-date=September 8, 2017|archive-url=https://web.archive.org/web/20170908154643/http://www.nauticaflats.com/about-nautica-entertainment-complex/|url-status=dead}}</ref> It then purchased the Greater Cleveland Aquarium, located in the complex, in 2014.<ref>{{cite news|title=Jacobs takes over ownership of the Greater Cleveland Aquarium; new exhibits announced|newspaper=Akron Beacon Journal|date=June 3, 2014|url=https://www.ohio.com/akron/pages/jacobs-takes-over-ownership-of-the-greater-cleveland-aquarium-new-exhibits-announced|accessdate=2017-09-08}}</ref>

Jacobs offered itself for sale to MTR Gaming in 2013 for $145 million in stock, but withdrew the offer after MTR agreed to be acquired by Eldorado Resorts.<ref name=pitches-sale>{{cite news|title=Jacobs Entertainment pitches sale to W.Va. company|newspaper=The Denver Post|agency=Associated Press|date=May 14, 2013|url=http://www.denverpost.com/2013/05/14/jacobs-entertainment-pitches-sale-to-w-va-company/|accessdate=2017-09-05}}</ref><ref name=lvrj20131003>{{cite news|title=Jacobs Entertainment offers rival bid for MTR Gaming|newspaper=Las Vegas Review-Journal|agency=Associated Press|date=October 3, 2013|url=https://www.reviewjournal.com/business/jacobs-entertainment-offers-rival-bid-for-mtr-gaming/|accessdate=2017-09-05}}</ref> The Jacobses had begun purchasing shares in MTR Gaming in 2006, eventually accumulating an 18 percent stake in the company.<ref name=pitches-sale /><ref>{{cite news|title=Younger Jacobs seeking bigger stake in owner of Mountaineer resort|newspaper=Crain's Cleveland Business|author=Stan Bullard|date=July 14, 2008|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F121FECAC064F9DA8&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}</ref> Later in the year, Jacobs made a competing offer to buy MTR, and then withdrew it after Eldorado increased its offer.<ref name=lvrj20131003 /><ref>{{cite press release|title=Jacobs Entertainment, Inc. supports Eldorado's proposal to MTR Gaming|publisher=Jacobs Entertainment|date=November 20, 2013|url=http://www.marketwired.com/press-release/jacobs-entertainment-inc-supports-eldorados-proposal-to-mtr-gaming-1854819.htm|via=Marketwired}}</ref>

Since 2008, Jacobs has pursued plans to develop a casino in Diamondhead, Mississippi.<ref>{{cite news|title=Jacobs Entertainment pursues Miss. casino|newspaper=Crain's Cleveland Business|author=Stan Bullard|date=September 19, 2008|url=http://www.crainscleveland.com/article/20080919/FREE/809199963/jacobs-entertainment-pursues-miss-casino|accessdate=2017-09-06}}</ref> The state gaming commission rejected the proposal in March 2017, but the company filed an appeal.<ref>{{cite news|title=Diamondhead casino developer appeals Gaming Commission decision|newspaper=The Sun Herald|location=Biloxi, MS|author=Mary Perez|date=April 5, 2017|url=http://www.sunherald.com/news/business/casino-gambling/article142835484.html|accessdate=2017-09-06}}</ref>

Jacobs purchased the Sands Regency Casino Hotel in Reno, a few blocks away from the Gold Dust West Casino, for $30 million in July 2017.<ref>{{cite news|title=Casino co. investing over $40M into Sands purchase and three blocks of downtown Reno|newspaper=Reno Gazette-Journal|first=Mike|last=Higdon|date=April 26, 2017|url=http://www.rgj.com/story/money/business/2017/04/26/only-rgj-casino-co-investing-over-50-m-into-three-blocks-downtown-fourth-street/306764001/|accessdate=2017-04-27}}</ref><ref>{{cite news|title=Jacobs Entertainment to acquire Sands|newspaper=Northern Nevada Business Weekly|author=Annie Conway|date=June 26, 2017|url=http://www.nnbw.com/news/jacobs-entertainment-to-acquire-sands/|archiveurl=https://web.archive.org/web/20170626211536/https://www.nnbw.com/news/jacobs-entertainment-to-acquire-sands/|archivedate=2017-06-26}}</ref><ref>{{cite report|title=Location Details - Public|publisher=Nevada Gaming Control Board|url=https://gaming.nv.gov/reports/Report/LDRReportWeb?rnseq=MDE2MzUtMDUwLjk4Mzg2NDUxNjE2NDg0NDM=|accessdate=2017-09-05}}</ref> The company soon began a $500-million plan to redevelop the corridor between the two casinos with mixed-use developments and retail and entertainment venues.<ref>{{cite news|title=Downtown Reno Courtyard Inn sold to Fountain District developer for $2.1M|newspaper=Reno Gazette-Journal|author=Jason Hidalgo|date=November 10, 2017|url=https://www.rgj.com/story/money/business/2017/11/10/downtown-reno-courtyard-inn-sold-fountain-district-developer-2-million/853112001/|accessdate=2018-04-28}}</ref><ref>{{cite news|title=Jacobs Entertainment tearing down 'heroin hotel' and two other downtown Reno motels|newspaper=Reno Gazette-Journal|author=Mike Higdon|date=February 23, 2018|url=https://www.rgj.com/story/money/business/2018/02/23/jacobs-entertainment-tearing-down-heroin-hotel-and-two-other-downtown-reno-motels/352487002/|accessdate=2018-04-28}}</ref>

In April 2018, Jacobs sold Colonial Downs, which had been closed since 2014. The track was sold to Revolutionary Racing, a Chicago-based group of investors and gaming executives, for a price of more than $20 million.<ref>{{cite news|title=Racing group buys Colonial Downs for more than $20 million, promising to revitalize Virginia horse racing|newspaper=Richmond Times-Dispatch|first=Graham|last=Moomaw|date=April 25, 2018|url=http://www.richmond.com/news/virginia/government-politics/racing-group-buys-colonial-downs-for-more-than-million-promising/article_55dc604a-b53a-536b-a2d2-9c555dd06a45.html|accessdate=2018-04-28}}</ref>

===Black Hawk, Colorado=== * The Gilpin Casino * The Lodge Casino

===Nevada=== * Gold Dust West Casinos ** Carson City ** Elko ** Reno * J Resort – Reno (formerly Sands Regency Casino Hotel) * Reno's Neon Line District – Reno * The Glow Plaza – Reno

===Cleveland, Ohio=== '''Nautica Waterfront District''' - West Bank of The Flats<ref>[https://nauticawaterfrontdistrict.com/about/ ABOUT US - Nautica Waterfront District.com]</ref> * Greater Cleveland Aquarium * Jacobs Pavilion * Windows on the River (banquet hall) * Shooters Waterfront Cafe * Improv Comedy Theater & Restaurant * M/V Lady Caroline (dining cruise boat based/docked at Nautica)<ref>[https://www.cleveland19.com/2023/04/27/dining-cruise-ship-coming-cleveland-set-sail-later-this-summer/ Dining cruise ship coming to Cleveland, set to sail later this summer - Cleveland 19.com (WOIO/WUAB)]</ref> * Nautica Tennis Courts<ref>{{cite web |title=WE'RE BRINGING TENNIS TO THE LAND. |url=https://www.tennisintheland.com/venue-map.html |website=Tennis in the Land |publisher=Tennis In The Land |access-date=August 18, 2023}}</ref>

===Former=== * Colonial Downs – New Kent County, Virginia (sold in 2018) * Lolly the Trolley – Cleveland, Ohio (closed in 2022) * M/V Nautica Queen – (dining cruise boat replaced by Lady Caroline in 2023)

==References== {{Reflist}}

==External links== * {{Official website|http://jacobsentertainmentinc.com/|Jacobs Entertainment, Inc.}}

Category:Companies based in Golden, Colorado Category:Gambling companies of the United States Category:Hospitality companies of the United States