Governor John Bel Edwards is expected to sign legislation to extend Harrah’s Casino in New Orleans’ license with the state through 2054. Harrah’s has agreed to 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,” Smith said.
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, now we know,” said Smith.