Louisiana to Pay Slots Money to New Orleans NFL Team, the Saints
Louisiana Governor Kathleen Blanco recently passed a bill into law, allowing New Orleans NFL team the Saints to enjoy tax money generated by the future slot machines at the New Orleans Fair Grounds. The slots bill is part of the state’s effort to comply with its 10-year, $186 million contract with the team.
For years, the state has been borrowing funds in order to pay the team. Gaming officials reportedly believe that the slots, which are to be installed in 2007, are not likely to cover the Saints yearly payments and debts incurred by the state of Louisiana.
Governor Blanco was said to be hopeful that she might succeed in renegotiating the terms of the state’s contract with the team. However, Tom Benson, the Saints' owner, will not engage in any renegotiations until the 2005 football season is over.
