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Louisiana lawmakers agree to 30-year extension for Harrah's

3 years 4 months 3 days ago Wednesday, May 29 2019 May 29, 2019 May 29, 2019 7:28 AM May 29, 2019 in News
Source: Associated Press

BATON ROUGE, La. (AP) - Louisiana will extend its no-bid contract with Harrah's to operate Louisiana's land-based casino in New Orleans for 30 years.

Legislation striking the deal won final passage Tuesday with a 27-10 Senate vote, sending the measure to Gov. John Bel Edwards, who supports it. Support for the contract extension was a turnaround from last year when a 30-year proposal failed amid Senate questions about whether it offered the state too little.

After that failure, the House and Senate hired a consultant to study the casino license's market value ahead of this year's debate. Harrah's will manage the New Orleans casino until 2054, in exchange for adding new restaurants, a second hotel, and more entertainment space.

Meanwhile, the state will get millions of dollars from the contractual arrangement than it receives today.

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