New Orleans casino plans big opening

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Wednesday, Aug. 18, 1999 | 11:43 a.m.

THE ASSOCIATED PRESS

NEW ORLEANS -- Harrah's New Orleans Casino has blocked 1,225 rooms for five nights at seven New Orleans hotels for its Oct. 27-31 opening celebration, the Times-Picayune newspaper reported today.

The Louisiana Gaming Control Board approved the deal Tuesday. Louisiana blocked Harrah's from building its own hotel due to opposition from existing operators who feared losing guests to the casino company.

A Harrah's New Orleans Casino executive told regulators the casino expects to reserve similar numbers of rooms for the Millennium celebration and Mardi Gras, the newspaper reported.

A subsidiary of casino giant Harrah's Entertainment Inc. owns 43 percent of the Harrah's New Orleans Casino, while local business interests own the rest. The Harrah's Entertainment unit also receives a management fee from the New Orleans casino.

Harrah's Entertainment stock was quoted at $23.50, down 25 cents a share, in late-morning trading today. Harrah's, based in Memphis, Tenn., is in the process of moving its headquarters to Las Vegas.