Harrah�s New Orleans� ongoing operations is expected to create 4,472 new jobs for Louisiana, which is about the same number of jobs created by all three riverboat casinos in the New Orleans area, and twice the number created by the Baton Rouge riverboat casinos. Over 50% of these new jobs, or 2,247, accrue to citizens of Orleans Parish.

In addition, the study estimates that the Louisiana State Treasury will collect $105.6 million in taxes and fees each year because of Harrah�s New Orleans� operations. This includes the $100 million minimum payment the casino must make to the State each year, which equates to an effective gaming tax of approximately 45%. This impact translates to $48.7 million in annual new household earnings for citizens of Orleans Parish, and an extra $457,842 in sales taxes where these monies are spent.

The economic impact study was released jointly today by Fred Burford, president and chief executive officer of JCC Holding Company which, through its wholly-owned subsidiary, Jazz Casino Company, L.L.C., is the owner and operator of Harrah�s New Orleans, and Loren C. Scott, PH.D., its author. The study, which was based on impact methodology used by the 1999 Louisiana Gaming Control Board Study that was chaired by Dr. Timothy Ryan of the University of New Orleans, estimates the impact of the casino�s ongoing operations on Orleans Parish and the State as a whole.

Scott is the former Director of Louisiana State University�s Division of Economic Development and Forecasting and the Freeport-McMoRan Endowed Chair of Economics. He is the co-developer of the Louisiana Econometric Model, a model used for providing annual forecasts of the state�s economy that are released each October.  

�The results are substantial,� said Burford. �First, it confirms the casino�s position as a major contributor to the economy of Louisiana and New Orleans. Secondly, while the impact estimates appear conservative according to Dr.  Scott, the impact is significant and will become even more so as we grow our business.� �The 2,247 new jobs created by Harrah�s New Orleans in Orleans Parish could not have come at a more opportune time,� said Scott. �The Parish has been reeling from the job losses associated with exploration firm layoffs ... . Harrah�s new jobs have certainly helped in offsetting some of that pain.�

Other findings contained in the study include:

• Scott conservatively estimated that Harrah�s New Orleans will attract at least 6,674,000 customers annually, a number that is about one and a half times the State�s population.  Of these, 2,369,000 will be from out of state.Just over a third of Harrah�s New Orleans patrons are from out of state.
• Out of state visitors will spend $100.8 million at other New Orleans� businesses during their stay.  Just over $40 million will be spent in hotels, in excess of $30 million in restaurants, and $29 million in other retail.

Statements in this press release which are not historical fact, including particular statements regarding JCC Holding Company� expectations regarding the future impact of the casino on Orleans Parish, the New Orleans MSA and the State of Louisiana, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.