Kurz bevor das WSOP Main Event nach der dreimonatigen Pause wieder startet, hat Harrah’s Entertainement bekannt gegeben, daß im dritten Quartal 2008 ein Verlust von 129,7 Millionen Dollar entstanden ist. Nur ein Jahr vorher hatte Harrah’s Entertainement im 3. Quartal einen Gewinn in Höhe von 244,4 Millionen Dollar. Es scheint ein langes und hartes Jahr für die Casino-Firmen zu sein, sie leiden unter der Wirtschaftskrise und dem Zusammenbruch des Kreditmarktes.

Atlantic City – Blaming the weak economy and competition from casinos in surrounding states, Atlantic City’s biggest gaming operator says it has begun cutting the work force at its four properties. Harrah’s Entertainment Inc. declined to disclose how many layoffs it has made at Harrah’s Resort, Bally’s Atlantic City, Caesars Atlantic City and Showboat Casino Hotel. Employment figures compiled by the New Jersey Casino Control Commission indicate hundreds of job cuts at Bally’s and Caesars.

New York (Reuters) – Private equity firms TPG and Apollo Management LP are going to have to mark down their investments in Harrah’s Entertainment, as the casino giant grapples with a soft economy and a heavy debt load, the Wall Street Journal reported on its website on Sunday. TPG TPG.UL and Apollo APOLO.UL bought Harrah’s Entertainment, which operates nearly 40 casinos across the United States, for USD 31 billion in January.

Harrah’s Entertainment confirmed it is preparing another round of layoffs and hourly reductions at its Las Vegas properties. Company officials late Thursday declined to say how many workers will be let go. They said the company will work closely with all employees who will be affected. „The country is experiencing a historically difficult economic period,“ said Jan Jones, senior vice president of communications and government relations for Harrah’s.

Harrah’s Entertainment Inc. has revealed their new plan that would extend perks to not only those gambling at the tables and on the slots, but also to people who are eating and shopping at their casino resorts. Las Vegas was built on perks. High rollers would come into town, eat and drink for free, their hotel rooms were comped, and they would proceed to spend large amounts of money gambling at the casino.

Las Vegas (Reuters) – The biggest bet on the Las Vegas Strip has not paid off yet. Private equity firms Apollo Global Management and TPG Capital bought Harrah’s Entertainment, which operates nearly 40 casinos across the United States, for USD 31 billion in January. It was the peak of a leveraged buyout bubble that moved companies like Hilton Hotels and Station Casinos into the hands of private investors.

Development Director for Europe of Harrah’s Entertainment, Andrew Totemham, has said that the company continue „developing“ the hotel casino project planned in Reino de Don Quijote of Ciudad Real. The executive also said that „the design phase is almost completed, but we have slown down our efforts until the current economic situation improves and we could have appropriate financial means for important projects and new developments in Europe“.

Topeka, Kansas (AP) – A judge was told Aug. 29 that blocking Harrah’s Entertainment Inc. from going forward with plans to build and manage a state-owned casino in Sumner County could doom the project. But lawyers for the Prairie Band Potawatomi Nation argued that Harrah’s involvement in the south-central Kansas project would violate a noncompete agreement the company signed with the tribe in January.

Last week, Penn National Gaming lost out to Harrah’s Entertainment in Sumner County for a casino contract with the state of Kansas. Penn was granted the contract to build in Cherokee County, but the company has said if it didn’t get both counties, it might pull out altogether. But now, a northeast Kansas Indian tribe is asking a judge to block Harrah’s plans, saying it’s violating a non-compete agreement signed in January.

Kansas City (Reuters) – Kansas gaming officials have awarded two contracts for development of state-owned casinos as the first in a series of such projects the Kansas officials hope will ultimately bring in at least USD 200 million annually. The Lottery Gaming Facility Review Board awarded 15-year contracts to privately held Harrah’s Entertainment Inc and Penn National Gaming Inc to construct and manage casinos that will be owned and operated by Kansas, the first U.S. state to do so.

Topeka, Kansas (AP) – The same week Harrah’s Entertainment Inc. is being considered for a contract to manage a Kansas-owned casino in Sumner County, it has been sued by an Indian tribe whose casino it managed for a decade. The Prairie Band Potawatomi Nation filed the lawsuit against Harrah’s, alleging the company violated a noncompete agreement with the tribe by seeking the contract for a proposed facility near Mulvane.