Hearing for Harrah's Buyout
By George Oates, Oct 12th 2007Gaming Regulators in New Jersey set a hearing date for two private equity companies that plan to buy the gaming company Harrah's Entertainment Inc. for $17.1 billion.
Among the famous casino establishments operated by the gaming giant are Bally's, Caesars and Showboat casinos with which Harrah’s Entertainment controls about 40% of the Atlantic City casino market.
The buyout of the gaming company by the two private equity firms Apollo Management and Texas Pacific Group may be one of the largest takeovers ever in the casino market.
Officials are expected to give information about plans to renew and develop the old and renowned Bally's and Caesars casino establishments. However all have been postponed after the pending buyout, which probably will end after the hearing which is set for October 17.
Among the famous casino establishments operated by the gaming giant are Bally's, Caesars and Showboat casinos with which Harrah’s Entertainment controls about 40% of the Atlantic City casino market.
The buyout of the gaming company by the two private equity firms Apollo Management and Texas Pacific Group may be one of the largest takeovers ever in the casino market.
Officials are expected to give information about plans to renew and develop the old and renowned Bally's and Caesars casino establishments. However all have been postponed after the pending buyout, which probably will end after the hearing which is set for October 17.
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Hearing for Harrah's Buyout
