The current 25-year lease allowing Caesars to run Harrah’s expires in 2024. The laws, specifically House Bill 553 (HB533), extends Caesars Entertainment Corporation’s state gambling license by 20 years with an option for another 10 years. In addition, the minimum yearly payments to New Orleans will be $6 million. John Bel Edwards’ acceptance, the casino would need to pay the State of Louisiana at least $83.6 million a year. Under the proposal, which wants to pass the home and receive Gov. If approved by the House, the bill would permit the company to run the casino for another twenty to thirty years, given it invests $350 million at a significant overhaul during the next four years.Īt a 21-16 vote that hardly covered minimum of 20 votes, the Senate approved an amendment that puts a cap of $20 million over the additional minimum payment in earnings to the nation. The Louisiana Senate approved legislation Wednesday that Stretches Caesars Entertainment’s contract for Managing Harrah’s Casino at New Orleans.
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