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Times Staff and Wire Reports

Harrah’s Jazz Files Reorganization Plan: The plan calls for a scaled-down New Orleans land casino to open next year in time for the 1997 Super Bowl. It would operate under a state tax break for two years. The plan filed in U.S. Bankruptcy Court in New Orleans also calls for full payment to unsecured creditors and would make bondholders the majority equity owners of the casino. Harrah’s Jazz closed its temporary casino on Nov. 22 after less than seven months of operation and filed for federal bankruptcy protection. ITT Corp. and Hilton Hotels Corp. have said they would like to take over the shuttered New Orleans land casino project. Competitors can now file reorganization plans to take over the project from Harrah’s Jazz.

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