Caesars Entertainment has shared plans to invest $325m, transforming its existing Harrah’s New Orleans casino property into the rebranded and renovated Caesars New Orleans.
The project was presented to the New Orleans Building Corporation yesterday (December 8) and is expected to be completed by 2024.
Plans for the renovation include a new 340-room tower about the casino’s existing valet porte cochère, new culinary and hospitality offerings, additional development of a currently unoccupied area on the casino’s second floor, and full exterior and interior architectural and design renovation.
“We are excited to introduce Caesars New Orleans to the city,” said Tom Reeg, CEO of Caesars Entertainment. “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.”
Samir Mowad, general manager of Harrah’s New Orleans, added: “As a native of New Orleans, I am so proud that we are working with local architects and designers to help enhance an already incredible destination.
“What was shared today is only the beginning of a transformation that will bring new energy, excitement, and fun to New Orleans.”
New Orleans’ mayor, LaToya Cantrell also commented on the project, lauding the number of jobs it is likely to create both in construction during the project, and new and sustainable jobs post-construction.
Additional details on the venue’s new offerings will be released in the coming months, subject to City and Louisiana Gaming Control Board approval.
In June 2019, the operator was awarded an extension to its operating contract in New Orleans, allowing it to operate until 2054. As part of the extension agreement, Caesars will provide millions in tax revenue to New Orleans and Louisiana.
In September, Caesars agreed to sell its Harrah’s Louisiana Downs Casino, Racing & Entertainment property to Rubico Acquisition for $22.0m.
Last week, it was announced the operator had also signed a definitive agreement to sell its Belle of Baton Rouge riverboat casino in the state to CQ Holding Company, the parent company of Illinois’ Casino Queen.
Caesars has sold several properties this year across the US, following the completion of its $17.3bn acquisition by Eldorado Resorts. The deal created the largest casino operator in the world, it said, with more than 55 properties around the world, including in 16 US states.