Hard Rock Casino proposal: Create land

LAKE CHARLES, LA. — A proposed Hard Rock Casino in Lake Charles would be built partly on land that doesn't yet exist.

St. Gabriel Downs LLC, one of three applicants for Louisiana's 15th and last gambling license, wants to rent 7.5 acres of lakeshore for

$490,000 a year and fill in about 12 acres more in the lake in exchange for 20 years of free rent on it.The city would own that new land, which would cost about $7 million to create, Mayor Randy Roach told the City Council on Wednesday."Beginning in the 21st year of the lease St. Gabriel would start paying rent at an estimated cost of $412,000. Basically, at that point, the company would be paying close to $1 million to the city in rent."The City Council voted 7-0 to let the administration negotiate a deal with St. Gabriel Downs.Mayor Randy Roach said the company's option to lease will last for one year and that St. Gabriel Downs will have to deposit $50,000, which won't be refundable.The other applicants for the license are Creative Casinos LLC, which also wants to operate in Lake Charles, and Penn National Gaming Inc., which is proposing a New Orleans-area casino.A fourth applicant, Tomorrows Investors LLC of Lake Charles, was disqualified in October because it didn't include a $50,000 fee with its application in September.

Powered by WizardRSS | Best Membership Site Software

Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGEwMbvJZnMMMMWOi9K-A7qSq2x2A&url=http://www.hattiesburgamerican.com/article/20101205/NEWS01/12050350

< Prev		Next >

Hard Rock Casino proposal: Create land - Hattiesburg American