Associated Press - June 23, 2009 7:54 AM ET

MORGAN CITY, La. (AP) - The owner of the Evangeline Downs race track says its has agreed to buy the Amelia Belle riverboat casino near Morgan City for $106.5 million.

Peninsula Gaming LLC says it hopes to complete the deal with Tropicana Casino and Resorts in September. The deal must be approved by the Louisiana Gaming Control Board.

Peninsula Gaming also owns two floating casinos in Iowa. The company developed the new Evangeline Downs in Opelousas, along with a slot machine casino, after moving it from Lafayette.

The Amelia Belle was moved to Morgan City from New Orleans and opened in May 2007.

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