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Louisiana State Treasurer Wants Casino Books Audited26 October 2000BATON ROUGE, Louisiana – Oct. 26, 2000 --As reported by The Associated Press: "Stockholders of the New Orleans Casino stand to make huge profits if the state bails out the facility by cutting the $100 million tax, state Treasurer John Kennedy told a legislative committee. "…He was asking the Legislative Audit Advisory Council to permit the legislative auditor to look over the casino's books to see just where the state stands. "…Kennedy said one specific audit he wants is projections of the impact on the stock of JCC Holding Co., which operates the casino and on Harrah's Entertainment, which owns more than 40 percent of JCC Holding Co. "…The casino operators are campaigning for a lowering of the $100 million tax, saying the casino cannot make a reasonable profit by paying that amount to the state - an amount they agreed to with no reservations a few years ago…" |