New Orleans, Harrah's Settle Lawsuit - Monday 20th of February 2006

NEW ORLEANS – As reported by the New Orleans Time-Picayune: "The New Orleans City Council and the owners of Harrah's New Orleans Casino have settled a lawsuit the council filed in 2004 accusing Harrah's of breach of contract and bad faith for failing to develop the casino's vacant second floor.

"Under the agreement, attorneys for the two sides said Thursday, the city stands to get $52.5 million over the remaining 52 ½ years of Harrah's lease of the casino site, a city-owned tract at the foot of Canal Street that formerly held the Rivergate convention center.

"The total includes a minimum of $925,000 in annual payments to the city, subject to cost-of-living adjustments every three years, plus a one-time payment of $3.5 million for the right to close a block of Fulton Street near the casino.

"…Two ordinances were introduced at Thursday's council meeting spelling out the terms of the new agreement, which was negotiated over the past few months by Russ Herman, the private attorney who filed the council's lawsuit against Harrah's, and casino attorney Basile Uddo…"

Other news from around the same time

Wynn: Encore On Schedule - Monday 20th of February 2006

by Rod SmithLas Vegas Gaming WireLAS VEGAS Despite project cancellations and concerns about overbu....


Blue Chip Goes High Tech - Monday 20th of February 2006

INDIANA – As reported by the Chicago Sun-Times: "The ability to monitor and access all gaming ope....


Glasgow Plans Get Mixed Reviews - Sunday 19th of February 2006

GLASGOW, Scotland – As reported by the UK Herald: "Business leaders and politicians gave a mixed ....


Kentucky Casino Vote Bill Filed - Sunday 19th of February 2006

KENTUCKY – As reported by the Kentucky Courier-Journal: "A Woodford County legislator filed bill....


Stern: No Quarrel With Casinos - Sunday 19th of February 2006

by Chris JonesLas Vegas Gaming WireHOUSTON National Basketball Association Commissioner David Ster....


MGM Mirage Board Member Indicted in Wiretap Scheme - Saturday 18th of February 2006

By Howard StutzLas Vegas Gaming WireNEVADA A longtime board member of MGM Mirage who is a persona....


Monticello Raceway, Horsemen Sign Agreement - Saturday 18th of February 2006

NEW YORK – Empire Resorts, Inc. today announced that the company has come to an agreement with ....


Isle of Capri Casinos Reports Results - Saturday 18th of February 2006

BILOXI, Mississippi – Isle of Capri Casinos, Inc. (Nasdaq: ISLE) today reported financial resul....


GPIC Appoints Board Member - Saturday 18th of February 2006

LAS VEGAS – Gaming Partners InternationalCorporation (Nasdaq: GPIC) announced today that it rec....


Adelson Sells LV Sands Shares - Saturday 18th of February 2006

by Howard StutzLas Vegas Gaming WireLAS VEGAS Las Vegas Sands Corp. Chairman Sheldon Adelson could....