Caesars to revamp New Orleans casino

By Noah Taylor Updated
Indiana casino sold for $250m

A New Orleans casino is set for a major facelift after Caesars Entertainment announced it will spend $325 to redesign the resort and add a second town.

Calvin Ayre reports that Harrah’s New Orleans, owned by Caesars, is expected to undergo the transformation, due to be completed by 2024, if the development is approved by the city of New Orleans and the Louisiana Gaming Control Board.

In the announcement, Caesars chief executive Tom Reeg said: “As the only land-based gaming operator in the city, we take great pride in our 20-year history in New Orleans, and this reinvestment is a testament to our continued commitment.”

“We will continue to move this city forward and fuel our economic recovery, moving important projects that put people to work and entertain residents and visitors alike,” added LaToya Cantrell, Mayor of New Orleans.

“We are excited that this expansion will mean hundreds of construction jobs during the project and hundreds more in sustainable and new jobs post-construction.

“The addition of Caesars New Orleans will strengthen our city’s position as the top cultural and entertainment destination city in the nation.”

Louisiana legislature has already agreed to the plan, giving it permission when they extended the casino’s licence to 2054.

The expansion will allow for a 340-room hotel, a carport, facelift for existing features and new food and hospitality offerings.

More is expected to be announced in the future.

“What was shared today is only the beginning of a transformation that will bring new energy, excitement and fun to New Orleans,” general manager of Harrah’s New Orleans Samir Mowad said.

This is the first major renovation Caesars is pursuing since its acquisition by Eldorado Resorts in July.

That deal went for $17.3 billion and the merged company continues to go under the Caesars brand.

This renovation, removing the Harrah’s name for Caesars, helps further simplify branding for the company going forward.

“We are excited to introduce Caesars New Orleans to the city,” Mr Reeg said.

Caesars given one more year to close Indiana casino

Caesars Entertainment has been granted a one year extension to sell its Horseshoe Casino in Hammond, Indiana.

NWI News reported in November that the Indiana Gaming Commission unanimously agreed to grant the extension, agreeing with IGC executive director Sara Tait that selling the Hammond casino right now “presents unique challenges,” including uncertainty over Illinois’ gaming expansion and the impact of the coronavirus pandemic on the industry.

She said “granting relief regarding divestiture timing is in the best interest of the state and local community and will not negatively impact operations at the property.”

In July, the Gaming Commission directed Caesars to sell three of its five Indiana casinos by December 31 to prevent an “undue economic concentration” of the state’s gaming industry following the $17.3 billion acquisition of the former Caesars Entertainment Corp by Eldorado Resorts.

The “new” Caesars already sold the Tropicana Casino in Evansville for $480 million in October and the company is currently in exclusive negotiations to sell the Caesars Southern indiana casino in Elizabeth by December 31.

Caesars plans to retain the two suburban Indianapolis horse track casinos, Harrah’s Hoosier Park and Indiana Grand.

Eldorado’s acquisition of Caesars is finalised

Eldorado, which started with a single hotel-casino in Reno in 1973 announced in July that it has completed a $17.3 billion buyout of Caesars Entertainment and will take the iconic company’s name going forward as the largest casino owner in the world.

Houma Today reported that Eldorado said the combined company will now own and operate more than 55 casino properties in 16 states across the US, including eight resorts on the Las Vegas Strip.

“We are pleased to have completed this transformative merger,” former chief executive officer of Eldorado Resorts and now chief executive officer of Caesars Entertainment Tom Reeg said.

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