Casino agrees to slots at track

Friday, March 30, 2001 | 11:16 a.m.

NEW ORLEANS -- The Fair Grounds and Harrah's New Orleans Casino have reached an agreement under which the horse-racing track could eventually have as many as 700 slot machines.

Currently, three of the state's tracks are eligible to have slots, but the Fair Grounds is excluded because of Harrah's monopoly in New Orleans. If that monopoly is breached, the casino does not have to pay the state any taxes.

Legislation allowing the track to have slots was introduced Wednesday by House Speaker Charles DeWitt, D-LeCompte, and Rep. Glen Ansardi, D-Kenner.

Fair Grounds president Bryan Krantz said he had been discussing the issue for several months with JCC Holding Co., the owner of Harrah's New Orleans. Under the plan, the Fair Grounds would turn on 300 slot machines on July 1, 2003. Another 100 would be added on July 1, 2004, and another 100 a year later.

If the casino pulled in $350 million in gambling revenue in any year, the Fair Grounds would be allowed to expand its slots casino to 700 machines. The casino is currently averaging closer to $250 million per year in revenue.

"We are cognizant of Harrah's infratrucure and the jobs they've created, and they are cognizant of the Fair Grounds' historic importance and our infrastructure and jobs," Krantz said. "That was ultimately what allowed for this compromise."