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Bally's New Orleans Casino Renews Lease

18 August 2003

NEW ORLEANS, Louisiana – As reported by the Associated Press: "After losing an effort to get a rent break, Bally's Casino has renewed its 10-year lease for its current dockside site on Lake Pontchartrain.

"The riverboat's landlord, the Orleans Levee Board, had refused to consider breaks for the money-losing casino. Bally's renewed its 10-year lease last week even though it says it has lost more than $11 million over the past three years.

"…In July, Bally's asked the board to eliminate a planned increase of $876,000 in the casino's annual rent and to accept a lease shorter than 10 years…"

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