Advertisement

GAMING

Share
Times Staff and Wire Reports

Hilton Explores Managing New Orleans Casino: Beverly Hills-based Hilton Hotels Corp. said it has had preliminary discussions with the casino’s bondholders to manage and provide funding to complete the now-stalled gaming complex in New Orleans. Harrah’s Jazz Co. halted construction on the project and filed for bankruptcy protection in November after it ran out of cash to build the casino and gambling revenues from a temporary facility fell far short of expectations. Hilton said it expects to determine over the next two weeks how much money and effort were needed to open the facility by January 1997. Hilton President Stephen F. Bollenbach said he envisions the company serving primarily as manager while ownership would rest with the bondholders of Harrah’s Jazz Co., which asked Hilton to help complete the project.

Advertisement