The Big Easy Money

New Orleans hoteliers are nervous about a plan by Mayor Ray Nagin to bring gambling to the city. According to the Wall Street Journal, (subscription needed for all these WSJ links) the plan is designed to bring revenue, employment and taxes back to the city.

"The plan has been greeted with caution by hotel operators who might benefit. Major hotel companies including Starwood Hotels & Resorts Worldwide Inc., Global Hyatt Corp., Hilton Hotels Corp., Host Marriott Corp. and Marriott International Inc., all said it was premature to comment on casinos in the city."

The Journal says the plan may run into problems because gambling establishments in neighboring Mississippi will not want to create competition for themselves by setting up in New Orleans. In the meantime the gaming industry along the Gulf Coast in Mississippi has been moving "swiftly and forcefully" in bringing itself back.