Atlantic City, 2001

Mirage Resorts releases plans for Le Jardin

With no time to spare, Mirage Resorts last month announced that it had applied for development permits for the company's Atlantic City Marina-district project. The applications mean that the company is in compliance with an agreement it reached with the Atlantic City government that granted the land to Mirage. The deal required Mirage to apply for a construction permit within a year of the agreement.

The company went one step further than the deal requires, however, when it announced more details of the plans for the resort.

The development, Le Jardin Hotel & Casino, will comprise 2,027 rooms, 138,000 sq. ft. of casino space, a 1,500-seat showroom, nine restaurants and an atrium retail promenade that will consist of 18 stores. The garden-themed project will also include its own boardwalk, and almost 4,000 parking spaces.

As if to taunt the principal opponent of the project, the main entrance to Le Jardin will be directly across Brigantine Blvd. from Trump's Castle (soon to be renamed Trump Marina).

The documents filed indicate that Mirage plans to begin cleanup of the H-tract site, the former city landfill, in July, 1998, with construction commencing in September of that year. Completion is scheduled for February 2001.

Harrahâs Jazz, city and state strike New Orleans deal

After months of drawn-out negotiations, the city of New Orleans and the state of Louisiana have finally agreed on an operating contract for Harrah's Jazz Co.'s $840 million casino.

The deal has been the major stumbling block in recent months for the bankrupt casino operator and its half-built casino in the heart of New Orleans. The agreement was scheduled to be heard by the Louisiana Gaming Control Board and, once approved, must then be approved by the Legislature.

But Senate President Randy Ewing has said Louisiana lawmakers may not approve the contract. Gov. Foster, who has said he will take a neutral position on the casino, has speculated there is only a 30 percent chance that the Legislature will approve the proposed operating contract.

Harrah's Jazz also appeared in bankruptcy court to confirm its reorganization plan, the final step before emerging from bankruptcy protection. The company closed its temporary casino and halted construction on the Canal Street project in November, 1995.

Creditors signed off on the reorganization plan earlier this year, but the city has held up the process, questioning what would happen to its rent payments if Harrah's were to fail again. The state controls the casino building and the casino license. But the city owns the land on which the casino is built, and is supposed to receive about $12 million a year in rent from Harrah's. The city wanted the state to guarantee the rent if Harrah's goes bankrupt again.

Harrah's consolidates Tunica casinos

Harrah's Entertainment, Inc. plans to consolidate its operations in Tunica, Miss., into its newer and larger Harrah's Tunica Mardi Gras Casino and Hotel.

The announcement completes a previously announced plan by the company to have an exit strategy for its original Tunica casino by mid-year.

It is anticipated that the consolidation will include transfer of the entire Harrah's Tunica staff to the Mardi Gras Casino and the movement of the most popular slot machines into the newer Harrah's property. Harrah's anticipates no layoffs due to the consolidation.

ãOur goal in the Tunica market is to create a single, exciting casino experience by mixing the very best of our two operations under one roof,ä said Joe Hasson, vice president and general manager of Harrah's Tunica.

Harrah's will continue to explore options for the original Tunica building, which include selling it to another operator; leasing it and operating it under another brand name; owning it and operating it under another brand name; and moving the facility to another market. The original Harrah's Tunica casino opened in 1993. Harrah's Tunica Mardi Gras Casino and Hotel opened in 1996.

New Palace Casino plans resort

New Palace Casino owner Robert Low plans to add a 10-story hotel and other amenities totaling $25 million to his newly purchased floating casino on the Back Bay of Biloxi.

Low took control of the bankrupt Palace casino in February. Contractors will break ground in September and construction will take 14 months.

The hotel, which will incorporate the gold glass exterior and white panel look of the casino, will have 225 guest rooms and 14 suites with balconies that overlook Biloxi's Back Bay and Gulf of Mexico. The hotel will also include a restaurant, banquet facilities and a swimming pool with waterfalls and bridges.

New Palace will build a marina with 50 slips for boats up to 60 feet long and an RV area with 40 spaces.

A.C. planning board, council clears way for MGM

The Atlantic City Planning Board has declared that an 11.6 acre plot of land in the city's Inlet section was eligible for development, allowing the city to use a variety of methods to acquire the land, including eminent domain. City council followed up the move with a vote to approve a redevelopment plan.

The unanimous vote came despite objections by landowners and speculators who urged the board to let them sell their land at a ãfair price.ä

MGM Grand Inc. has already targeted the land for its $700 million project, and the planning board's decision clears the way for a redevelopment plan that could result in condemnation proceedings for the various parcels of land that remain unsold.

Joseph Zoll of Media, Pennsylvania, owner of eight of the lots, said the board was tying his hands in his negotiations with MGM. Zoll is a multi-millionaire who owns a house in the Caribbean next to Ross Perot.

Local residents were generally more understanding, applauding the board's concern for development on land that has been vacant for more than 20 years. ãBye-bye, speculator,ä said one resident after Zoll spoke.

By a 7-0 vote (with two abstentions), the council requested that a redevelopment plan be drawn up. While the entire process could take only a few months, the possibility remains that it may be drawn out for more than a year.