Louisiana Downs, a thoroughbred racetrack in Bossier City, LA.

The agreement gives Harrah's a 95 percent stake in a company that now owns both Louisiana Downs and Harrah's Shreveport Hotel & Casino. The remaining 5 percent of this holding company is owned by a group of Shreveport/Bossier City-area investors.

Current plans call for Louisiana Downs to offer approximately 900 slots by the time the racing season begins in June 2003. Harrah's expects to open a new permanent casino facility at Louisiana Downs with about 1,500 slot machines by June 2004. The new casino facility will be connected to the existing racetrack by a new entryway featuring a number of new restaurants. The company plans to complete all improvements by June 2004. The property will become the only land-based gaming facility with slots in northern Louisiana.

"Our plans for Louisiana Downs are ambitious, and will make this property one of the finest thoroughbred racing and slot entertainment facilities in the country," said Gary Loveman, president and chief operating officer of Harrah's. "We expect Louisiana Downs to set a high standard, one that we will follow as we examine potential future development opportunities across the country."

"Louisiana Downs will be a valuable complement to Harrah's Shreveport that will offer a unique new gaming experience to our customers," Loveman said.

Harrah's Shreveport, which caters primarily to customers from across Louisiana, Texas, Oklahoma and Arkansas, features a 23-story, 514-room luxury hotel tower and the largest convention center in northwest Louisiana. Both opened in early 2001. The casino, opened in 1994, has 1,220 slots and 35 table games. Harrah's Shreveport is located about eight miles west of Louisiana Downs.

"We plan to take advantage of the numerous synergies between Harrah's Shreveport and Louisiana Downs, including cross-marketing and combined advertising opportunities," Loveman said.

Founded 65 years ago, Harrah's Entertainment, Inc. operates 26 casinos in the United States, primarily under the Harrah's brand name. 온라인카지노