Harrah's Entertainment Takes Over Louisiana Downs Racetrack; Adds Slots

Harrah's Entertainment Inc. has completed a controlling stake acquisition in Louisian Downs, a thoroughbred racecourse in Bossier City, LA.

The agreement will take a 95% stake in the company, which currently owns both Louisiana Downs and Harbour's Shreveport Hotel & Casino. The remaining 5% of the holding company is owned by Shreveport/Bosier City area investors.

Current plans require Louisiana Downs to provide about 900 slots by the start of the racing season in June 2003. Harrows expects to open a new permanent casino facility in Louisiana Downs, which has about 1,500 slot machines, by June 2004. The new casino facility will be connected to the existing racetrack by a new driveway featuring a number of new restaurants. The company plans to complete all the improvements by June 2004. The property will be the only land-based gaming facility with slots in northern Louisiana.

"Our plans for Louisiana Downs are ambitious, making it the best thoroughbred racing and slot entertainment facility in the United States," said Gary Loveman, president and chief operating officer of Harras. "We expect Louisiana Downs to set a high standard, which we will follow as we investigate potential development opportunities across the country."

"Louisiana Downs will be a valuable complement to Hara's Shreveport, which will provide customers with a unique new gaming experience," Loveman said.

Harrah's Shreveport, which primarily caters to customers across the states of Louisiana, Texas, Oklahoma, and Arkansas, features a 23-story, 514-room luxury hotel tower and the largest convention center located in northwest Louisiana. Both opened in early 2001. The casino, which opened in 1994, has 1,220 slots and 35 table games. Harrah's Shreveport is located about 8 miles west of Louisiana Downs.

"We intend to leverage numerous synergies between Harrer's Shreveport and Louisiana Downs, including advertising opportunities combined with cross-marketing," Loveman said.

Harrah's Entertainment, Inc., founded 65 years ago, operates 26 casinos in the United States, primarily under Harrah's brand name. 온라인카지노사이트