Harrah’s to Buy Rest of JCC for $54 Million

Harrah’s Entertainment Inc. agreed to buy the part of JCC Holding Co. it doesn’t already own for $54 million in stock, ending a feud with the managers of the Harrah’s New Orleans Casino.

Harrah’s alleged JCC was blocking its attempt to nominate members to the JCC board, and JCC said Harrah’s failed to market the casino as it promised under the management agreement.

Harrah’s shares fell 3 cents to $47.32 in NYSE trading. JCC shares rose $1.20 to $10.20 in over-the-counter trading.