morebyless / CC
Legislation is heading to the governor’s desk to extend Harrah’s Casino in New Orleans’ license with the state through 2054. In return, Harrah’s will invest 325-million dollars into the property which will result in a second hotel, new restaurants and other upgrades. Norco Senator Gary Smith says the bill is about economic development.
“Allowing an industry that’s operating in the city of New Orleans to be able to grow in its non-gaming activities and bring more to the table,” said Smith.
Harrah’s will also pay an additional millions of dollars more to the state and city for having Louisiana’s only land-based casino license. A similar bill died last year over concerns that the state was not getting a good deal. Smith says prior to this year’s debate, the legislature hired a consultant to study the casino license’s market value.
“We were really guessing….no we know,” said Smith.
The measure is headed to the governor’s desk. John Bel Edwards is expected to sign it.
