[7/9/03]The new owners of Harrah’s Vicksburg Hotel and Casino will get a 10-year extension on the lease of city water front property where the casino sits today.

The amendment will give the new owners control of the property until 2033.

In addition, the City of Vicksburg and the new casino owners, Columbia Sussex Corporation, will swap two parcels adjacent to the hotel property.

Last week, Harrah’s Entertainment Inc., of Las Vegas announced it will sell its Vicksburg property to the Kentucky-based company that operates both of Greenville’s casinos. City officials say the extended contract, which is subject to the closing of the sale, will benefit the new owners and the local tax base.

“It’s really good for the city because we get a lot of revenue from the lease,” said Mayor Laurence Leyens.

The city gets about $1.2 million annually from the lease of property between the Yazoo Diversion Canal and Levee Street. The lease also includes easements that allow the casino property access. Vicksburg’s four casinos, including Harrah’s, annually add about $6.3 million to the city’s budget, or about 20 percent of the $30.9 million spending plan.

The sell to Columbia Sussex of Fort Mitchell, Ky., is expected to be completed by the end of the year and is subject to regulatory approvals.

“We also felt like this would be good to us with regards to employment,” said North Ward Alderman Gertrude Young.

The latest numbers at the Mississippi Gaming Commission indicate that Harrah’s employed about 400 people in March. Columbia Sussex has not made public plans for the casino, but local casino managers have said they expect the company to perform well in Vicksburg.

Harrah’s was the first casino-hotel combination built in Mississippi and was the second casino in Vicksburg when it opened in November 1993.

Dockside gambling was authorized by Mississippi lawmakers in 1990 and approved by Warren County voters in December 1991.

Harrah’s has 117 hotel rooms and suites, about 700 slot machines and 15 table games, but is the smallest property in Harrah’s inventory.

Columbia Sussex operates 57 hotels, resorts and casinos in 26 states and overseas, including the Lighthouse Point Casino and Jubilee Casino, in Greenville, the Horizon Casino Resort in South Lake Tahoe and the Westin Casuarina property on Grand Cayman Island. It also operates franchises for brands such as Crowne Plaza, Holiday Inn, Westin and Radisson.