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Message
Helena Moreno wants a payday loan.
Posted on 4/28/26 at 2:10 pm
Posted on 4/28/26 at 2:10 pm
WWL
quote:
New Orleans Mayor Helena Moreno and city leaders are moving forward with a financial proposal that leans heavily on the city’s partnership with Caesars Casino. The plan would essentially trade nearly a decade of future casino rent payments for a one-time infusion of about $103 million. In exchange, the city would forgo its rights to Caesars’ rent payments from 2026 through 2035, receiving the lump sum upfront instead.
32
Posted on 4/28/26 at 2:12 pm to Cell of Awareness
What could go wrong?
Is she being advised by Joan Laporta?
Is she being advised by Joan Laporta?
This post was edited on 4/28/26 at 2:13 pm
Posted on 4/28/26 at 2:12 pm to Cell of Awareness
Idiot
Posted on 4/28/26 at 2:12 pm to Cell of Awareness
the answer probably involves shady politics and cronyism, but why would Caesar's be renting and not owning the property outright?
ETA: I stayed at the Hilton across the street from Caesar's a couple. of weeks ago, could've been me
ETA: I stayed at the Hilton across the street from Caesar's a couple. of weeks ago, could've been me
This post was edited on 4/28/26 at 2:14 pm
Posted on 4/28/26 at 2:12 pm to Cell of Awareness
Put the city's future on black. Or red.
Posted on 4/28/26 at 2:13 pm to Cell of Awareness
Remember how great it was for the city of Chicago when they got quick cash for all of their parking meters?
Posted on 4/28/26 at 2:13 pm to Cell of Awareness
Democrats ruin everything
Posted on 4/28/26 at 2:14 pm to 777Tiger
quote:
but why would Caesar's be renting and not owning the property outright?
Why would the city sell the property?
Posted on 4/28/26 at 2:15 pm to fightin tigers
quote:
Why would the city sell the property?
why would they own it in the first place?
Posted on 4/28/26 at 2:17 pm to TheOcean
This post was edited on 4/28/26 at 2:36 pm
Posted on 4/28/26 at 2:20 pm to Cell of Awareness
Didnt chicago do the same with their parking meter revenue..... worked out really well fo rthem......should work out the same for new Orleans
Posted on 4/28/26 at 2:20 pm to Cell of Awareness
quote:
In exchange, the city would forgo its rights to Caesars’ rent payments from 2026 through 2035, receiving the lump sum upfront instead.
The city of New Orleans just keeps sinking further and further down and no matter how anyone feels about NO or BR what happens in those cities effects everyone in Louisiana.
Posted on 4/28/26 at 2:22 pm to 777Tiger
quote:
why would they own it in the first place?
The city, and many cities, own lots of land. Then lease it to companies.
The math seems to be $103MM vs $144MM over 9 years.
Not sure if the amount is inflation adjusted but that isn't that bad a deal.
Posted on 4/28/26 at 2:23 pm to tigeraddict
quote:
Didnt chicago do the same with their parking meter revenue..... worked out really well fo rthem
New Orleans isn't selling an unrestrained revenue making stream with this. The delta is known.
Posted on 4/28/26 at 2:23 pm to Cell of Awareness
Never giving my hard earned money to that harrahs again
Posted on 4/28/26 at 2:24 pm to fightin tigers
quote:
Not sure if the amount is inflation adjusted but that isn't that bad a deal.
Not a bad deal in terms of raw #s but it's being used to plug holes now and will expose bigger ones over the next 8 years I'd imagine
Posted on 4/28/26 at 2:25 pm to Cell of Awareness
Didn’t Chicago do something similar? Maybe with their parking revenue? It was a disaster if I recall correctly.
Posted on 4/28/26 at 2:28 pm to fightin tigers
quote:
The math seems to be $103MM vs $144MM over 9 years.
Not sure if the amount is inflation adjusted but that isn't that bad a deal.
Except for the fact that their budget and expenditures rely on that consistent revenue. Will they actually adjust the budget accordingly, or just SALY the line item.
Posted on 4/28/26 at 2:28 pm to SlowFlowPro
quote:
Not a bad deal in terms of raw #s but it's being used to plug holes now and will expose bigger ones over the next 8 years I'd imagine
It isn't a longterm solution. It solves the immediate problem of currently not having enough cash reserves.
Borrowing against your future earning at what appears to be a less than 5% rate versus getting a loan with downgraded credit. Especially on short notice.
Posted on 4/28/26 at 2:30 pm to Weekend Warrior79
quote:
Will they actually adjust the budget accordingly, or just SALY the line item.
The budget has been slashed. Acthal government reduction in size and spending
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