Editor’s note: The headline in the Cleco Corp. story has been altered to accurately reflect the judge’s ruling.
On the decline: Baton Rouge’s three riverboat casinos collectively posted a 1.3% decline in winnings last month compared to January 2015, according to new figures from the Louisiana Gaming Control Board. Total local market winnings were approximately $22.8 million in January, down from roughly $23.1 million in January the year previous. The Belle of Baton Rouge and L’Auberge each posted declines, while Hollywood Casino saw a scant uptick. Winnings at The Belle were roughly $4.7 million, down 2.8%, while L’Auberge winnings declined 1.3% to approximately $12.8 million. Hollywood Casino winnings were up 0.2% to roughly $5.3 million. Louisiana’s 15 riverboats, four racetrack slots casinos and Harrah’s New Orleans casino brought in a combined $207.1 million last month, a 5.8% drop from January 2015 winnings. Access the complete January winnings report.
From the bench: A judge has ruled that the proposed $4.9 billion sale of utility provider Cleco Corp. to a consortium of private investment firms would not be in the public’s interest. The Associated Press reports the ruling comes a week before the Louisiana Public Service Commission is due to vote on the proposed sale. The deal has been blasted by citizens’ groups and some public officials, who warn that the sale would end up costing consumers. On Wednesday, Administrative Law Judge Valerie Seal Meiners issued her ruling, saying the purchase of Cleco Corp. by three investment firms, collectively known as Cleco Partners, would bring financial risks to Cleco and its ratepayers. There are about 284,000 Cleco customers in Louisiana. In a statement, Cleco says it remains hopeful the commission will vote to approve the deal.
Adding space: Ochsner Health System announced Thursday a $360 million expansion of Ochsner Medical Center in Jefferson Parish. The construction phase is expected to generate 284 new jobs and more than $610 million in new sales for local Jefferson Parish businesses, WGNO-TV (ABC) reports. The south campus will be expanded to accommodate 767 beds. The Gayle and Tom Benson Cancer Center also will be added as part of the expansion. A new imaging center will be added to the north campus, while a west campus for a new inpatient rehab facility will be created at what is now the Jefferson Plaza Shopping Center. The campuses are expected to be completed in 2019. Read the full story.
