How it started
Company founding and first casinos (1991-1993)
In 1991, Andrew Tompkins, founder of the Lady Luck Hotel & Casino in downtown Las Vegas, wanted to expand locally, but found property in Las Vegas and Laughlin too expensive. Instead, he joined many other gaming industry figures in looking to Midwestern and Southern states that were beginning to legalize riverboat casinos. He revealed plans for a casino in Natchez, Mississippi, in August 1991, and went on to open the Lady Luck Natchez in February 1993 at a cost of $8 million.
After Colorado legalized gambling in three cities in 1991, Tompkins negotiated to buy land for a casino in Central City from the school district, but withdrew from the deal after the city council imposed a 9-month moratorium on new casino development. Instead, Tompkins and the Lady Luck signed on to consult for the financially troubled Gold Coin Saloon and Casino in Central City, which turned into an agreement in March 1993 for Tompkins to buy the property.
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. The company's name was changed to Lady Luck Gaming in July.
Rapid expansion (1993-94)
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.
From Wikipedia’s article on Lady Luck Gaming, shared under CC BY-SA 4.0.2