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EXHIBIT 99.1
Slide Presentation from October 19, 2000 presentation by Frederick W. Burford
to the Casino Tax Advisory Commission
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SLIDE 1
JCC Logo
SLIDE 2
Disclosure regarding forward looking statements
SLIDE 3
A Business Generator for Louisiana
SLIDE 4
Organizational Review
JCC Holding Company
HNOMC
SLIDE 5
Key Question
Is Louisiana better off with or without this business?
SLIDE 6
How Does This Business Benefit Louisiana?
Generates
-State and City Revenues
-Tourism Business
-Economic Growth
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What Revenues Does This Business Generate for the State and the City?
$100M Minimum Payment to the State
$20M City Payments
-$2.0M Other
-$2.0M Schools
-$3.4M Taxes
-$12.5M Lease
SLIDE 8
Annual Community Payments
Newcorp Business Incubator $1,250,000 (over 5 years) COPE Grants
$2,500,000 (over 5 years) Audubon Institute $200,000 plus $375,000
Ticket Commitment Total $1,325,000 Annually
SLIDE 9
How Does This Business Expand Tourism in Louisiana?
$83 Million Marketing Effort
- National and International Ads
- Promotional Programs to Market New Orleans to Harrah's
Patrons Nationally
- Bus Charter Programs...Bring 10,000 Tourists Each Month
- Air Charter Programs...Bring Visitors From 20 Cities
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SLIDE 10
What Does Harrah's Bring To Tourism and This Business?
Marketing Knowledge
Brings Marketing Muscle- 19M Data Base
Total Rewards Generates 20% of Revenue
Passport Program Makes N.O. Accessible
SLIDE 11
What Are The Results?
Revenues
NOV $16,200,000
DEC $16,500,000
JAN $19,200,000
FEB $20,400,000
MAR $20,500,000
APR $19,000,000
MAY $20,900,000
JUN $21,700,000
JUL $23,500,000
AUG $21,600,000
SEPT $23,700,000
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What are the Results? First Quarter 2000
<TABLE>
<S> <C>
Beau Rivage Mississippi $48.9M Revenue
$4.0M State Taxes
Horseshoe Shreveport $60.3M Revenue
$11M State Taxes
Harrah's New Orleans $60.1M Revenue
$25M State Tax
</TABLE>
SLIDE 13
Let's Look at the Competition...
SLIDE 14
Presentation of a video demonstrating the development and growth on the
Mississippi Gulf Coast resulting from the casino industry.
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How Does This Business Generate Economic Growth?
Provides a Healthy Payroll
Increases Restaurant Business
Increases Hotel Occupancy Rates
Increases Retail Sales
Purchases $58M in Goods and Services
Attracts $100M in Casino Tourist Spending
Multiplier Effect for All of the Above
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SLIDE 16
What Are Our Payroll Impacts?
$139 Million
Direct $56M
Tips $27M
Benefits $22+M
Indirect $34M
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Growing Louisiana's Economy
How Does Our Payroll Compare To Other Employers?
<TABLE>
<CAPTION>
JOBS
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Avondale-Litton 5000+
Ochsner 5000+
McDermott 3000 - 5000
Exxon-Mobil, BR 4000
Harrah's Lake Charles, Shreveport 3700
Harrah's N.O. 3000
Lockheed Martin 2500 - 3000
Tulane 2500 - 3000
</TABLE>
SLIDE 18
Growing Louisiana's Economy...
How Does This Business Support Diversity?
-Minorities Comprise 65% of Workforce
-"Welfare to Work" Employees are 10% of Workforce
-22% of Purchases Are From Minority and Women Owned Businesses
-250+ Minority and Women Owned Firms in Vendor Base
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Growing Louisiana's Economy...
What Does This Business Purchase
<TABLE>
<S> <C>
Hotel Rooms $11.40M
Food $ 5.70M
Alcohol $ 2.40M
Catering $ 1.80M
Rest & Bars $ 1.40M
Other G&S $35.30M
</TABLE>
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Growing Louisiana's Economy...
How do Casino Tourists Spend their Money?
<TABLE>
<S> <C>
Hotels $40M
Restaurants $30M
Shopping $29M
Other G&S $ 1M
</TABLE>
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SLIDE 21
Recap Impacts
<TABLE>
<S> <C>
State and City Revenue $120M
Marketing and Tourism Budget $ 83M
Economic Impacts $297M
</TABLE>
SLIDE 22
Comments we Hear
"A Deal is a Deal"
-Stick with the Current Terms
-The Current Deal
-Current Deal will Lead to Closure
SLIDE 23
Comments we Hear
"Commitments Not Kept... However..."
-Paid Former Creditors 100%, $54M
-Completed Casino in One Year $248M
-One Time Payments/Investments to State, City and Community
-Hired 1150 Former Casino Employees
-Harrah's Honored its Guarantee $40M Paid
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Comments we Hear
"Re-Bid the Contract"
-No One will Re-Bid under Current Deal
-Litigation will Close the Business for Years
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Comments we Hear
"Re-Bid the Contract"
-No One will Re-Bid under Current Deal
-Litigation will Close the Business for Years
-Gulf Coast will Get Casino Tourist Dollars
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Comments we Hear
"State Owned Casino ... Not a Feasible Solution"
-Litigation will Close the Business for Years
-Destroys Firewall between Owner and Regulator
-Unfair Advantage Over other Regulated Operators
-State Funds pay for Gaming Perks
-Politics Injected in the Gaming Business
-Outside the Mandate of Government
-No State has Casino Ownership
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SLIDE 27
What Do We Need To Keep The Business Generator Running?
Four Points of Success
-Fair State Tax
-Ease Restrictions (hotels, food services)
-City Lease Modifications
-Restructure Financially
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What Do We Need To Keep The Business Generator Running?
Fair State Tax Rate
40% La-Land
6.25% Nevada
8% Mississippi
20% Missouri
8% New Jersey
18.5% La-Boat
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What Do We Need To Keep The Business Generator Running?
Restructure Financially
Expenses
$120M City and State
$45M Debt Services
$117M Operating Expenses
$78M Payroll
Revenue
$100M Other Funding
$260M Revenue
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What Do We Need To Keep The Business Generator Running?
Investor Restructuring Profile
<TABLE>
<S> <C>
$138M Add'l Borrowing $700-800M Investor Losses
$380M Post 98 Investment $200-300M Post Reorganization Co. Value
$605M Pre 98 Investment
</TABLE>
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SLIDE 31
Who Must Address Issues
State Tax Issue- Administration and Legislators
City Issue- City Administration/Council
Food- Louisiana Restaurant Association
Hotels- Greater NO Hotel/Motel Association
Financial Restructuring- Bondholders, Shareholders, Banks, Mgt. Group
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Resolutions/Letters of Support- Business Associations
o American Public Works Association
o N.O. Regional Chamber of Commerce
o N.O. Downtown Development District
o E-Z Time, Inc.
o French Quarter Festivals, Inc.
o Hispanic Chamber of Commerce
o Lafitte Economic Development Corp.
o Medallion Media, Inc.
o N.O. Convention and Visitors Bureau
o Opportunities Industrialization Ctr.
o Ozanam Inn
o Principal Financial Group
o Upper Decatur Association
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Resolutions/Letters of Support- Non Profits
o AARP
o Asian Pacific American Society
o Bridge House
o Classic Foundation
o Medical Center of LA Foundation
o Southern Rep Theatre
o St. Claude Medical Center
o Way Maker Ministries
o YWCA
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Resolutions/Letters of Support- Civic Associations
o Algiers Counsel of Neighborhoods
o Delta Aimees
o Fat City Kiwanis
o Newcomers
o Operating Clean Sweep
o Save our Lake
o Welcome Neighbors
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SLIDE 35
Is Louisiana Better Off With or Without This Business?
SLIDE 36
Let's Keep the Business Generator Going for Louisiana's Future
SLIDE 37
JCC Logo
