|
Hey guys, I think this is certainly newsworthy for ya! In last week's hearing, the Nevada Gaming Control Board have given preliminary approval for Harrah's to purchase the Planet Hollywood Casino. Harrah's paid $70 million in September 2009 to acquire over $300 million worth of Planet Hollywood's debt to take control of the hotel property in Jan 2010. The deal's next phase gives Harrah's complete ownership of the company and that includes its gaming operations. It also means taking over another $554 worth of Planet Hollywood debts. But I have a feeling they will come out of this in a very comfortable position.
|