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Extension for Harrah's New Orleans casino backed by House

3 weeks 4 days 5 hours ago Thursday, March 29 2018 Mar 29, 2018 March 29, 2018 5:05 PM March 29, 2018 in News
Source: Associated Press
BATON ROUGE (AP) - The Louisiana House has agreed to a 30-year contract extension for Harrah's to operate the land-based casino in New Orleans.
  
Lawmakers voted 78-12 for the measure keeping Harrah's in place at the casino until 2054. The sponsor is Republican House Speaker Taylor Barras.
  
In exchange for the 30-year contract extension, Harrah's would agree to spend $350 million upgrading its facilities, adding new restaurants, building a second hotel and enlarging its entertainment space.
  
Harrah's $60 million annual payment to the state would remain in place. The state also would get an additional $3.6 million yearly, adjusted for inflation and dedicated to early childhood education.
  
Additional payments to the state also are possible.
  
Gov. John Bel Edwards backs the bill, which heads to the Senate for debate.

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