San Juan (AP) – U.S. casino operator Harrah’s Entertainment Inc. has announced that it has pulled out of a six-hotel resort proposal in the Bahamas worth more than USD 2 billion because it has taken too long to organize. Harrah’s had agreed to team up with developer Baha Mar Resorts Ltd. and Starwood Hotels & Resorts Worldwide (HOT) to create the mega-resort along Nassau’s famed Cable Beach.

This gambling mecca’s tallest building is now attached to a major casino. The new 960-room, 44-story Waterfront Tower debuted yesterday at Harrah’s Marina casino in the Marina District. It is the first among a wave of new casino hotel towers opening this year in Atlantic City. New Jersey Governor Jon Corzine and Harrah’s Entertainment chairman and CEO Gary Loveman participated at the ribbon cutting ceremony.

Harrah’s Entertainment on Tuesday said it will continue to pursue gaming opportunities in the United Kingdom casino market despite the government’s decision to not approve plans for a „supercasino“ in Manchester, England. The British government announced Tuesday what had been rumored for weeks: It will license 16 casinos to be built in the United Kingdom but veto plans for a „supercasino“ slated for Manchester in northwest England.

Crown Ltd. has increased its interest in the Las Vegas gaming market by spending USD 414 million for minority stakes in Harrah’s Entertainment and Station Casinos, the Australian gaming company revealed. However, the Melbourne, Australia-based company also suggested that a proposed USD 5 billion hotel-casino project slated for the former Wet ’n Wild site may be in jeopardy because of the tightening credit markets.

Future Reino de Don Quijote, project of an international tourist resort in Ciudad Real, will have a casino, with an annual impact of 77.5 million euros a year in taxes. Of that total, 20 million would come from gambling, 57.2 million of the tax to societies and 300,000 euros would come from other local taxes. The data was recently released by general director of El Reino de Don Quijote, Miguel Fernández Ballesteros, in the presentation of the mega complex in Madrid.

Las Vegas-based Harrah’s Entertainment has opened Scotland’s largest casino in Glasgow. Harrah’s stated that its USD 50 million Alea casino will cater to primarily working-class players. The new casino features a main slot machine gaming floor as well as three bars, a restaurant, a live music room and views over the city’s River Clyde. Harrah’s stated that no expense had been spared in the development of the site but that, despite this…

Harrah’s Entertainment, the American casino behemoth that owns London Clubs International (LCI), is understood to have made a tentative approach to Gala Coral Group, the betting and gaming operator, about the possibility of merging LCI with Gala Casinos. The news came as Genting, the Malaysian gaming company that owns Stanley Casinos, announced that it had lifted its stake in Rank Group…

Lang ist es her, um genau zu sein war es im Dezember 2006, als Harrah’s Entertainment, Inc. seinen eigenen Verkauf einläutete. Im darauf folgenden April stimmten dann noch die Aktionäre dem Handel zu und nun hieß es warten. Denn der Käufer Hamlet Holdings LLC musste erst Glücksspiellizenzen aus diversen US-Bundesstaaten einholen. So dauerte es wieder geschlagene acht Monate, bis diese endlich vorhanden waren und der Verkauf endgültig genehmigt werden konnte

The deal by two private equity firms to acquire Harrah’s Entertainment Inc. for USD 27.8 billion closed yesterday and shifted control of the world’s largest gambling company to private hands for the first time. The transaction includes four Atlantic City casinos and six on the Las Vegas Strip. The deal by Apollo Management L.P. of New York and Texas Pacific Group Capital L.P. of Fort Worth, Texas, for Harrah’s Entertainment is ranked as one of the largest leveraged buyouts in U.S. history, according to Thomson Financial.

Harrah’s Entertainment Inc. on Monday said it expects the proposed acquisition of the company by Apollo Global Management LLC and TPG Capital L.P. to be completed on January 28. It subject to customary closing conditions, according to a Securities and Exchange Commission filing. Under the terms of the merger agreement, Harrah’s stockholders will receive USD 90 a share in cash.

US gambling giant Harrah’s Entertainment could be about to take another run at getting in on the action in the UK. The Nevada-based firm made an unsuccessful attempt last month to purchase a 28 percent slice of UK gambling group Rank. Rank subsequently sold around 18 percent of its business to Malaysian gambling firm Genting and British property group Richardson Capital.

World leading casino operator company Harrah’s Entertainment announced this week that it has extended the existing employment agreement with Gary Loveman, the company’s Chairman, Chief Executive Officer and President. Loveman is expected to remain in those positions following completion of the merger of Harrah’s with affiliates of TPG and Apollo Management, which is expected to occur in early 2008.