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EXHIBIT 10.56
[HARRAH'S LETTERHEAD]
July 24, 2000
Mr. Frederick W. Burford
JCC Holding Company
One Canal Place
365 Canal Street
Suite 900
New Orleans, LA 70130
Re: FORBEARANCE
Dear Fred:
We are in receipt of your letter of July 18. We understand the difficulty
of your position and the financial problems facing JCC and the property. As a
result, we remain willing and interested in continuing to engage in discussions
with JCC and all of JCC's lenders and creditors with a view to arriving at a
permanent solution to JCC's financial problems.
To that end, we plan to discuss with our Board of Directors, at a
regularly scheduled meeting this week, the subject of the New Orleans project.
We expect to be in a position after the Board meeting to respond to your
letter. Under these circumstances we (Harrah's Entertainment, Inc., Harrah's
Operating Company, Inc. and Harrah's New Orleans Management Company) agree to
extend the forbearance date under the Limited Forbearance Agreement from
August 1, 2000 to August 15, 2000.
Very truly yours,
/s/ CHARLES L. ATWOOD
Charles L. Atwood
CA:sr
cc: Steve Brammell
Colin Reed
