see all jobs
Harrah’s and Caesars plan casino sales ahead of merger
US gaming groups Harrah’s Entertainment and Caesars Entertainment – which are planning to merge for an estimated $9.44bn (£5.09bn) – are in discussions with potential buyers including Colony Capital, over the sale of four casinos.
Discussions regarding the four properties – Harrah’s East Chicago, Harrah’s Tunica, the Atlantic City Hilton and Bally’s Tunica – are at a preliminary stage but the sale would ensure that the proposed merger the groups wouldn’t be blocked by American competition authorities.
If the Harrah’s-Caesars merger is given the go-ahead by the authorities, it will be the largest deal in gaming history, creating the world’s largest casino group in terms of revenues.
Harrah’s, founded 66 years ago, currently owns 28 casinos in the US while Caesars, which also owns 28 properties and operates under the Caesars, Bally’s, Grand Casinos, Hilton and Paris brand names, has an annual net revenue of $4.5bn. Harrah’s bid for Caesars has been made to increase the group’s presence in Las Vegas. Details: www.harrahs.com and www.caesars.com
More News
- News by sector (all)
- All news
- Fitness
- Personal trainer
- Sport
- Spa
- Swimming
- Hospitality
- Entertainment & Gaming
- Commercial Leisure
- Property
- Architecture
- Design
- Tourism
- Travel
- Attractions
- Theme & Water Parks
- Arts & Culture
- Heritage & Museums
- Parks & Countryside
- Sales & Marketing
- Public Sector
- Training
- People
- Executive
- Apprenticeships
- Suppliers