2007-10-17 16:35 (New York)
By Stefanie Batcho-Lino
Oct. 17 (Bloomberg) -- Harrah's Entertainment Inc., the casino company that last year agreed to sell itself for $17.1billion, said it received approval from the New Jersey casino commission for its takeover by Apollo Management LP and TPG Inc.
The transaction still needs to be approved by casino regulators in other areas, the Las Vegas-based company said today in a statement distributed by PR Newswire.
--Editor: Batcho-Lino (cmm).
To contact the reporter on this story:Stefanie Batcho-Lino in Toronto at +1-416-203-5723 or mailto:orsbatcholino1@bloomberg.net.
To contact the editor responsible for this story:David Scanlan at +1-416-203-5722 or dscanlan@bloomberg.net; Michael Nol at +1-212-617-2384 or mnol@bloomberg.net.
Showing posts with label Harrah's. Show all posts
Showing posts with label Harrah's. Show all posts
Thursday, October 18, 2007
Harrah's Gets New Jersey Panel's Approval for Buyout ( Update 1 )
2007-10-17 18:09 (New York)
By Stefanie Batcho-Lino
Oct. 17 (Bloomberg) -- Harrah's Entertainment Inc., the casino company that last year agreed to sell itself for $17.1 billion, said it received approval from the New Jersey casino commission for its takeover by Apollo Management LP and TPG Inc.
The transaction still needs to be approved by casino regulators in areas where its facilities operate, the Las Vegas-based company said today in a statement. Spending in Atlantic City casinos declined 11 percent in September, the New Jersey Casino Control Commission said earlier this month.
Harrah's has casinos in 13 U.S. states, Ontario, Canada and Uruguay, according to its Web site. Harrah's rose 50 cents to $88.29 at 4:22 p.m. in New York Stock Exchange composite trading, and the shares gained 6.7 percent this year. The world's largest casino company has said its sale may be complete late this year or early next year.
--Editor: Batcho-Lino (cmm/cws).
To contact the reporter on this story:Stefanie Batcho-Lino in Toronto at +1-416-203-5723 ormailto:orsbatcholino1@bloomberg.net.
To contact the editor responsible for this story:David Scanlan at +1-416-203-5722 ordscanlan@bloomberg.net;Michael Nol at +1-212-617-2384 ormnol@bloomberg.net.
By Stefanie Batcho-Lino
Oct. 17 (Bloomberg) -- Harrah's Entertainment Inc., the casino company that last year agreed to sell itself for $17.1 billion, said it received approval from the New Jersey casino commission for its takeover by Apollo Management LP and TPG Inc.
The transaction still needs to be approved by casino regulators in areas where its facilities operate, the Las Vegas-based company said today in a statement. Spending in Atlantic City casinos declined 11 percent in September, the New Jersey Casino Control Commission said earlier this month.
Harrah's has casinos in 13 U.S. states, Ontario, Canada and Uruguay, according to its Web site. Harrah's rose 50 cents to $88.29 at 4:22 p.m. in New York Stock Exchange composite trading, and the shares gained 6.7 percent this year. The world's largest casino company has said its sale may be complete late this year or early next year.
--Editor: Batcho-Lino (cmm/cws).
To contact the reporter on this story:Stefanie Batcho-Lino in Toronto at +1-416-203-5723 ormailto:orsbatcholino1@bloomberg.net.
To contact the editor responsible for this story:David Scanlan at +1-416-203-5722 ordscanlan@bloomberg.net;Michael Nol at +1-212-617-2384 ormnol@bloomberg.net.
Wednesday, October 17, 2007
Harrah's Is Interested in Suffolk Downs Casino, Herald Says
2007-10-11 08:40 (New York)
By Nancy Moran
Oct. 11 (Bloomberg) -- Harrah's Entertainment Inc. would consider building a $1 billion Caesars casino-resort at East Boston's Suffolk Downs horse racetrack, the Boston Herald reported, citing company Chief Executive Officer Gary Loveman.
Loveman told the newspaper he's long held talks with trackco-owner Joseph O'Donnell about putting a casino at the site, the newspaper said.
While Harrah's would be on the short list of candidates considered as potential track partners, O'Donnell said, the debate over casino gambling in Massachusetts is in its early stages, the newspaper reported.
Massachusetts Governor Deval Patrick is expected to introduce a bill today on opening the state to resort-style casinos, the newspaper said.
--Editor: Porter (cjn).
To contact the reporter on this story:Nancy Moran in New York at +1-212-617-2331 ornmoran@bloomberg.net
To contact the editor responsible for this story:JoAnne Norton at +1-202-624-1977 orjnorton@bloomberg.net.
By Nancy Moran
Oct. 11 (Bloomberg) -- Harrah's Entertainment Inc. would consider building a $1 billion Caesars casino-resort at East Boston's Suffolk Downs horse racetrack, the Boston Herald reported, citing company Chief Executive Officer Gary Loveman.
Loveman told the newspaper he's long held talks with trackco-owner Joseph O'Donnell about putting a casino at the site, the newspaper said.
While Harrah's would be on the short list of candidates considered as potential track partners, O'Donnell said, the debate over casino gambling in Massachusetts is in its early stages, the newspaper reported.
Massachusetts Governor Deval Patrick is expected to introduce a bill today on opening the state to resort-style casinos, the newspaper said.
--Editor: Porter (cjn).
To contact the reporter on this story:Nancy Moran in New York at +1-212-617-2331 ornmoran@bloomberg.net
To contact the editor responsible for this story:JoAnne Norton at +1-202-624-1977 orjnorton@bloomberg.net.
Subscribe to:
Posts (Atom)
