[8] Under the terms of Tompkins's deal with the Gold Coin's owners, American Casino Group Inc. was formed in February 1993 to hold the Lady Luck gaming ventures, except for the Las Vegas property.

[10] Lady Luck embarked on a strategy of moving into new gaming jurisdictions quickly with modest investments, planning to open riverboat casinos with no hotels or other extensive land-based facilities.

[11] In May 1993, the company entered into an agreement with developer Charles Lambert, taking a 68 percent stake in a joint venture to build the Lady Luck of Baton Rouge.

[12] Lambert and Tompkins planned to renovate the historic Capitol House Hotel, which they bought in November for $2 million, for use as a terminal for a casino boat.

[21] The license was finally approved in 2000,[22] after Isle of Capri had acquired Lady Luck, but the company abandoned the project a year later in the face of local opposition and potential lawsuits.

[23] In February 1994, Lady Luck, already heavily in debt, raised $185 million by issuing mortgage notes, stating that it could not afford to wait for existing properties to provide the funding for projects in new markets.

[11] The same month, Lady Luck proposed a $210-million hotel and riverboat casino in Lawrenceburg, Indiana, in a bid for the single gaming license allocated to Dearborn County.

[35] The Tunica casino closed after less than a year due to declining attendance,[36] and the barge was relocated to Coahoma County, where it opened in June 1994 as the Lady Luck Rhythm & Blues.

[42] The site's hotel opened in August 1994,[43] but with Lady Luck running short on money, the casino, along with another property planned for Vicksburg, were put on hold,[44] until a joint venture agreement was reached with Bally Entertainment.

[50] In August 1994, the company announced bids for two of ten gaming licenses available in Greece, one in conjunction with the city of Loutraki, and the other in Patras, in partnership with a local hotel.

[46] Another agreement that year put Lady Luck in a joint venture with Horseshoe Gaming to develop the site in Vicksburg,[59] but the project never came to fruition.