Harrah’s Deal Finally Official

/ Tim

After more than two months since the initial offer, Harrah’s Entertainment’s board of directors has accepted a $17.1 billion bid from Texas Pacific Group and Apollo Management to take the company private. What this means for the company’s Las Vegas Strip masterplan is anyone’s guess. Will major renovations go ahead as planned? Will pieces of the company be sold off over the next few years? Will the new owner be content to sit back and rake in big bucks for five or six years before taking the company public again? Stay tuned.

Details of the deal can be found here and here and here.

7 thoughts on “Harrah’s Deal Finally Official”

  1. Well, the suits claim this is a change in ownership, not in direction, so perhaps all announced plans will sally forth as expected. Time will tell. I, for one, would be very happy to see the Roman Plaza remain at Caesars and no additional towers – at least for a few more years.

  2. And we thought 6:5 BJ was bad. These guys will suck every $ out of us that they can. Look for offers to dry up and pennies pinched at every opportunity.

  3. Hello Tim, Michelle, and other listners.

    Just wishing everyone a nice New Year!

    Chris

  4. Oh wow, Tim is up to his old “photochop magic” again. Could the new FHBM web site banner of “The Happiest Place on Earth” be in fact a picture of the “Double Down Saloon” in LV. Home of the fabled “A$$ JUICE”, and freqeunted by the likes of Anthony Bourdain. 🙂

  6. That’s the Double Down alright. You’ll be hearing about it in show #98, which we’ll be recording tonight and posting tomorrow.

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