Harrah’s Entertainment has been trying to conquer the online gambling industry, which was what kept them busy last year. However, they are also still trying to expand their land-based empire.
Harrah’s is now a step closer in acquiring the most coveted Planet Hollywood Resort in Las Vegas after the Nevada Gaming Control Board approved the deal that would allow Harrah’s to take over the Planet Hollywood property.
The Nevada Gaming Commission is set to decide on the deal on February 18. If the Commission will approve it, then Harrah’s can take over on February 19.
The deal states that Harrah’s will assume most of the debt by Planet Hollywood at a discounted rate. The company is planning to improve the daily operations of the resort.
Harrah’s has been known over the years for hosting top-rated events and shows in Las Vegas. They are on a mission to bring this same kind of entertainment to Planet Hollywood.
Analysts believe that Planet Hollywood could have gone down to bankruptcy if it was not for Harrah’s stepping in and offering to buy the recession-battered resort.
