CoreCivic Says Awarded Contract to Resume Operations at Diamondback Correctional Facility in Oklahoma

MT Newswires Live

Oct 01

CoreCivic (CXW) said Wednesday it was awarded a contract to resume operations at its Diamondback Correctional Facility in Oklahoma, which has been idle since 2010.

The operator of detention centers said it expects total annual revenue of about $100 million once the facility is fully activated.

The contract provides for a fixed monthly payment plus an additional payment based on the number of detainees. It was awarded under an intergovernmental services agreement between the Oklahoma Department of Corrections and US Immigration and Customs Enforcement and commenced Tuesday for a period of five years, which could be extended further, the company said.

The correctional facility is expected to start receiving detainees in Q1 2026, with a full ramp estimated to be completed in Q2, CoreCivic said.

Shares of the company were up over 2% in recent Wednesday premarket activity.

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