The theme park, renamed as Funtricity Entertainment Park, also opened in May 1995. It was rebranded as an AmeriHost Inn by 2000, and in 2002 it was sold to AmeriHost's former chairman, Michael P. The hotel, owned by AmeriHost, opened in May 1995, and the company called it 'the most upscale Days Inn anywhere'. It took a controlling stake the following year, after RCC failed to finance elements of the casino that it was responsible for. United Gaming took a 45 percent ownership stake on the day it opened. The Rainbow Casino opened on July 12, 1994, with 574 slot machines and 28 table games. United Gaming (later known as Alliance Gaming, and then Bally Technologies) signed on to manage the casino. Six Flags agreed to build a 10-acre theme park named Pennants. Hospitality Franchise Systems agreed to provide $7.5 million in financing, and to franchise a hotel at the property under its Days Inn brand.

The project was initiated by the Rainbow Casino Corporation (RCC), made up of John A. It has 25,000 square feet (2,300 m 2) of gaming space and 89 hotel rooms. It is owned and operated by Bally's Corporation. Bally's Vicksburg is a riverboat casino and hotel in Vicksburg, Mississippi.

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