For just over $10 million a year, Harrah’s New Orleans could have its casino license extended for another 30 years. The only land-based casino in Louisiana will most likely have its license extension approved before state lawmakers take a break in June, but that 30-year extension will cost the company $325 million in investment funds, as well as additional tax payments.

A bill currently being considered by the Louisiana House, House Bill 544 (HB 544), authorizes the 30-year extension, provided the casino’s owner, Caesars Entertainment, agrees to make capital investments of $325 million that would need to be completed by July 2024. That is when the current license expires.

The bill’s sponsor, House Speaker Taylor Barras, asserts, “It is the right thing for Harrah’s and the right thing for Louisiana.” This is the second time in as many years that lawmakers have tried to extend the license.

HB 544 was passed by the House Criminal Justice Committee this past Wednesday by a vote of 13-0-1. It now moves to the House floor for a vote, where it isn’t expected to encounter much resistance before being forwarded to the Senate.