Altered Harrah's Casino Agreement Clears State Senate

Harrah's Casino Getty Images

For now, it appears Harrah's New Orleans casino will be around for a few more decades.

The Louisiana Senate approved an altered bill Wednesday that would extend the casino's operating agreement with the state another 20 years with an option to add another ten years down the road.

The casino's parent company, Caesar's Entertainment, will have to make an upfront payment of $40 million and follow through with plans to invest $350 million in a new hotel and other amenities.

The House has to concur with Senate changes before it heads to the governor's desk.

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