BOSSIER CITY, La. (AP) — A Mississippi company is buying a shuttered casino in northwest Louisiana’s Bossier City, with plans for a $200 million renovation and reopening.

The Times of Shreveport reports that the Louisiana Gaming Commission on Thursday approved the sale of the former Diamond Jacks Casino to Foundation Gaming.

“This is a day we’ve been waiting for a long time,” Gaming Commission Chairman Ronnie Johns said. “Foundation has an impressive plan.”

Foundation says it plans to build the first land-based casino in northwest Louisiana — all the others are on barges — with an aim to reopen by December 2024. The company will choose a new name for the property.

“We’ve put together what we believe will be a great project for the market and for the community,” said Greg Guida, Foundation’s co-chief executive officer.

The property was the first casino to open in northwest Louisiana in 1994, initially doing business as the Isle of Capri.

Local officials are supportive of the Foundation Gaming plan, hoping it will bring jobs and tax dollars. The company current operates the Fitz Casino in Mississippi’s Tunica County and WaterView Casino in Vicksburg.

Demolition will begin early next year, to be followed by construction on a 47,000-square-foot casino, a sports betting lounge and 300-seat live entertainment venue, as well as renovation of the 405-room hotel.