It is owned by Vici Properties and operated by Penn Entertainment, and uses its name under license from Jimmy Buffett's Margaritaville.

[4][5] Plans for the casino were first revealed in June 2011, when Isle of Capri Casinos announced an option agreement to sell one of its two riverboats in Lake Charles, along with the accompanying casino license, to developers who planned to move the license to Bossier City as part of a $170-million resort project.

[7][8][9] Alanis gave more details about the planned resort later that month, including that it would be affiliated with Jimmy Buffett's Margaritaville brand.

[8] Voters in Bossier Parish approved the casino in a November 2011 election.

[10] In February 2012, the developers completed their purchase of the Isle of Capri boat and license for $15 million, and construction began, with a Tutor Perini subsidiary as the general contractor.