KEY TAKEAWAYS: New Orleans advances deal expected to generate over $100 million in cash Agreement sells nine years of Caesars lease revenue through NOBC transaction City officials say move will boost reserves without adding taxpayer costs Remaining lease payments and key Caesars-related revenu es are not included in deal   New Orleans officials are moving forward with a proposed financial agreement expected to generate more than $100 million in immediate cash for city operations, a deal designed to stabilize municipal finances by selling future lease revenue tied to Caesars’ payments. The Moreno administration announced the plan April 28, describing it as part of a broader effort to strengthen the city’s fiscal position and address lingering budget pressures. The proposal would convert a portion of long-term lease income into upfront cash through a competitively bid transaction involving the New Orleans Building Corporation (NOBC). Mayor Helena Moreno said the agreement is intended to improve financial stability without placing additional costs on taxpayers. “Our team continues to work urgently to stabilize the city’s finances and deliver dependable basic services,” Moreno said in a statement. “This deal is more evidence of our team’s relentless work to solve these issues creatively and sustainably.” Under the arrangement, nine years of future lease payments from Caesars would be assigned to a financial institution in exchange for more than $100 million in immediate funds. Officials said the transaction does not affect the remaining 32 years of the lease, which will continue to generate revenue for future administrations. Chief Administrative Officer Joe Giarrusso said the move is aimed at rebuilding the city’s reserves and improving investor confidence. “This deal is a key part of our plan to rebuild our fund balance and improve our cases to both national rating agencies and the state bond commission,” Giarrusso said. “We know we need to think creatively to rebuild confidence in the city’s finances.” Louisiana Legislative Auditor Mike Waguespack also said the transaction could strengthen the city’s liquidity and reduce reliance on debt financing, calling it a potential step toward more sustainable financial management. The NOBC said the deal emerged from a competitive bidding process designed to maximize value while protecting the city’s long-term interests. CEO Annie McBride said the final agreement drew strong interest from multiple bidders. The administration emphasized that other Caesars-related revenue streams, including casino support payments, education funds and grant-related income, will not be included in the transaction and will continue to fund their designated programs. An ordinance authorizing the deal, backed by all seven members of the City Council, was introduced last week and is scheduled for consideration at the May 7, 2026, council meeting. Officials expect the transaction to close shortly after approval. ...read more read less