Foundation Gaming & Entertainment

What Foundation Gaming & Entertainment does

Foundation Gaming & Entertainment is a privately held regional casino entertainment company founded in 2015 by former Isle of Capri Casinos executives. The company owns and operates two casino hotel properties in Mississippi — Fitz Casino & Hotel in Tunica (a 50-acre property with 38,000 sq ft of casino space, 500 hotel rooms, three restaurants, and an 8,000 sq ft event center) and WaterView Casino & Hotel in Vicksburg (30,000 sq ft casino, 122-room hotel, and 7,000 sq ft event center). Combined, the properties operate over 1,450 slot and video poker machines and 14 table games, serving regional Mississippi gaming, hospitality, and live entertainment markets.

The company's revenue model is fundamentally transactional, generated through casino gaming operations (slots, video poker, table games), hotel accommodations, food and beverage outlets, and ticketed events including concerts, MMA, and boxing. The go-to-market is direct-to-consumer through physical properties, supplemented by community engagement and cultural sponsorships such as the Mississippi Public Broadcasting 'Southern Dish' series. In December 2022, the company executed a $293.4 million sale-leaseback transaction with VICI Properties for both Mississippi properties, establishing a 15-year triple-net master lease while retaining operational control.

The company is led by five founding partners — Co-CEOs Greg Guida and Jeff Dahl, CFO Donn Mitchell, COO Les McMackin, and Chairman Allan Solomon — collectively representing over 100 years of regional gaming experience. The leadership team has navigated multiple M&A transactions including the 2015 acquisition of Diamond Jacks in Vicksburg (rebranded WaterView), the 2018 acquisition of Fitz Casino, and the 2022-2023 acquisition and subsequent divestiture of Diamond Jacks in Bossier City, Louisiana to Cordish Gaming Company.

Name

Foundation Gaming & Entertainment

Legal name

Foundation Gaming Group, LLC

Website

https://foundationgaminggroup.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Foundation Gaming & Entertainment is a private regional casino operator that owns and operates two Mississippi casino hotels — Fitz Casino & Hotel in Tunica and WaterView Casino & Hotel in Vicksburg — serving local gaming, hospitality, and live entertainment guests.

Ownership category

akta.pro rank

Product category

Regional Casino Gaming & Hospitality

NAICS

Casino Hotels (72112), Casino Hotels (721120)

SIC

Hotels, Rooming Houses, Camps & Other Lodging Places (7000)

akta.pro primary industry

Integrated Casino Resorts (Casino + Hotel/Entertainment) (MPAEAAAA)

akta.pro secondary industries

Integrated Casino Resorts (THAGAJAA), Destination Casino Hotels (THAGAJAC), Convention & Events Casino Hotels (THAGAJAK)

Keywords

• Regional casino operations
• Casino hospitality services
• Casino property management
• Hotel and gaming
• Live entertainment venues

Headquarters

HQ city

Robinsonville

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. Casino Gaming Operations: Revenue from slot machines, video poker, and table game operations at Fitz Casino & Hotel and WaterView Casino & Hotel properties.
2. Hotel Accommodations: Hotel room revenue from 500-room Fitz Casino & Hotel and 122-room WaterView Casino & Hotel.
3. Food & Beverage: Restaurant and dining venue revenue including Fuddrucker's, The Bazaar, buffet at Fitz; Lucky Bean at WaterView; Dominick's fine dining at Fitz.
4. Events & Entertainment: Revenue from concerts, MMA, boxing events, and other live entertainment at 8,000 sq ft Fitz event center and 7,000 sq ft WaterView event center.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Foundation Gaming Group, LLC is a casino entertainment company that owns, operates, and develops casino properties in regional U.S. markets. The company's current operations consist of two casino hotel properties—Fitz Casino & Hotel in Tunica, Mississippi and WaterView Casino & Hotel in Vicksburg, Mississippi—each providing gaming (slot machines, video poker, and table games), hotel accommodations, food and beverage outlets, and event spaces for concerts and live entertainment.

Product overview

Foundation Gaming & Entertainment operates a portfolio of casino entertainment properties in regional U.S. markets. The company's core offerings consist of two casino hotel properties—Fitz Casino & Hotel in Tunica, Mississippi and WaterView Casino & Hotel in Vicksburg, Mississippi—each providing gaming (slot machines and table games), hotel accommodations, food and beverage outlets, and event/entertainment venues. The properties are complemented by ancillary dining venues such as Dominick's at Fitz Casino & Hotel.

Differentiator

Problem solved

Functional benefit

Products and services

• Fitz Casino & Hotel
• WaterView Casino & Hotel

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered minor.

• Mississippi Public Broadcasting (MPB)minorGTM or Marketing Partner · 30 March 2026Foundation Gaming & Entertainment sponsors MPB's original series 'Southern Dish' celebrating Mississippi's food scene. Dominick's restaurant at Fitz Casino & Hotel will be featured in an episode. Other sponsors include Atmos Energy, Mississippi Beverage Association, and Visit Mississippi.
• Cordish Gaming CompanyminorOthers · 27 October 2023Foundation Gaming completed the sale of Diamond Jacks Casino (Bossier City, Louisiana) to Cordish Gaming Company after receiving Louisiana Gaming Control Board approval. The property was acquired by Foundation Gaming in December 2022 and was subsequently sold to enable Cordish's $270+ million redevelopment as LIVE! CASINO & HOTEL LOUISIANA.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Others

• VICI Properties: Experiential real estate investment trust and counterparty to Foundation's $293.4M sale-leaseback transaction. Not a competitor but the principal capital partner underpinning Foundation's asset-light operating structure; also leases to numerous regional gaming operators comparable to Foundation.

Broad incumbents

• Churchill Downs Incorporated: Regional casino and racing operator with portfolio of regional casino properties across multiple states. Comparable regional gaming operating model, though more diversified into horse racing and historical racing.
• Boyd Gaming: Multi-state regional casino operator with 28 properties across 10 states. Significantly larger than Foundation Gaming but operates comparable regional casino hotels in similar mid-tier markets.
• Penn Entertainment: Large multi-state regional gaming and pari-mutuel operator. Operates regional casinos comparable to Foundation's portfolio but at substantially greater scale, with integrated online gaming via ESPN BET.
• Bally's Corporation: Multi-state regional gaming operator with national footprint including online gaming. Larger and more diversified than Foundation Gaming, but operates comparable regional casino hotels across multiple U.S. markets.

Direct peers

• Century Casinos: Multi-jurisdictional regional casino operator with properties across the U.S. and internationally. Comparable to Foundation Gaming in regional casino operating focus and multi-property portfolio management approach.
• Cordish Gaming Company: Regional casino operator and developer (LIVE! Casino brand). Direct counterparty in the Diamond Jacks LA transaction; operates regional U.S. casino hotels comparable in size and segment to Foundation's properties.
• Full House Resorts: Small-cap regional casino hotel operator with multiple regional U.S. casino properties. Closely comparable to Foundation Gaming in scale, regional market focus, and asset-light philosophy — both operate smaller regional casinos outside major Las Vegas/Atlantic City markets.
• Golden Entertainment: Regional gaming operator with distributed casino and tavern gaming operations. Comparable regional market orientation and similar property-level operating model to Foundation's casino hotels.
• Monarch Casino & Resort: Regional casino resort operator (Atlantis Casino Reno + Black Hawk, CO properties). Comparable in operating regional U.S. casino hotels with integrated lodging and gaming offerings similar to Fitz and WaterView.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/foundation-gaming-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Foundation Gaming & Entertainment