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Harrah’s New Orleans threatens closure over tax

Tuesday, Sept. 19, 2000 | 11:37 a.m.

The majority owner of Harrah's Entertainment Inc.'s casino in New Orleans said the property may be forced to shut down by March 2001 if the state of Louisiana does not lower its mandatory $100 million annual tax against the property.

Today, the Louisiana Gaming Control Board said the casino was in technical default of its financial agreement with the state as of August. It has been given six months to cure the default.

"The burden of a $100 million minimum payment to the state is simply too great a burden for any business with the level of revenues in this market," said Fred Burford, president and chief executive of majority owner JCC Holding Co. "This business cannot survive for the long haul with the $100 million minimum yearly payment."

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