Harrah's Entertainment, Inc.

News and overview for Harrah's Entertainment, Inc.

NOVEMBER 13, 2009, 2:03 P.M. ET Corporate Bond Buying Sets Record
Barron's (subscription required) | 10 days 3 hours 58 minutes ago
NEW YORK -- Companies in the U.S. and Europe are racing to sell a record volume of relatively cheap bonds, valued at trillions of dollars, as they take advantage of investors' voracious appetite for corporate debt to repair wounded balance sheets ahead of the holiday slowdown.


Former IGT exec steps down as board chairman
Las Vegas Sun | 39 days 6 hours 57 minutes ago
T.J. Matthews, former International Game Technology chief executive officer, is stepping down as chairman of the IGT board of directors but will remain on the board.


Gaming stocks tumble on earnings, economic news
Las Vegas Sun | 27 days 1 hour 9 minutes ago
Gaming stocks fell broadly Tuesday after three big Las Vegas hotel-casino operators reported third-quarter results reflecting the continuing economic downturn.


Urgency in Launching Debt Offers is Greater than Usual; Watching the Punch Bowl
Wall Street Journal, The | 7 days 23 hours 21 minutes ago
Companies around the world are racing into the bond market while investor demand remains hot, concerned that the window may slam shut at any moment.


Issuers Scramble to Sell Before Central Banks Raise Rates; Watching the Punch Bowl
Wall Street Journal, The | 7 days 17 hours 9 minutes ago
Companies around the world are racing into the bond market while investor demand remains hot, concerned that the window may slam shut at any moment.


NOVEMBER 15, 2009, 10:59 A.M. ET Corporate Issuers Scramble to Sell Urgency in Launching Debt Offers is Greater than Usual; Watching the Punch Bowl
Barron's (subscription required) | 8 days 7 hours 21 minutes ago
Companies around the world are racing into the bond market while investor demand remains hot, concerned that the window may slam shut at any moment.


Casino business facing tough times
New Zealand Herald, The | 27 days 13 minutes ago
LAS VEGAS, Nevada - The world's largest casino company said today that it lost US$1.6 billion during the third quarter as fewer people gambled, fewer groups visited and the value of its assets fell.


Players to turn Vegas Strip into Monopoly board
Tribune (San Luis Obispo, Calif.), The | 35 days 11 hours 19 minutes ago
Officials say five lucky players will play on a life-size Monopoly board on the Las Vegas Strip as part of a promotion for the Monopoly World Championships.


IGT Chairman Matthews to step down from post
Forbes | 39 days 9 hours 14 minutes ago
LAS VEGAS -- International Game Technology said Friday that Chairman T.J. Matthews plans to step down from his post, to be succeeded by board member Philip G. Satre starting on Dec. 1.


Corrections & Amplifications
Wall Street Journal, The | 31 days 20 hours 1 minute ago
Microsoft Corp.'s Windows 7 operating system can be downloaded at http://store.microsoft.com/home.aspx. In some editions Thursday, the Mossberg's Mailbox column incorrectly stated that Windows 7 couldn't be downloaded, but instead had to be purchased on a disk.


La. casino revenue down 1.3 percent over past year
Seattle Times, The | 34 days 2 hours 27 minutes ago
BATON ROUGE, La. Louisiana's state-licensed casinos came out of the year after the September 2008 financial meltdown not much worse for the wear - at least as far as taking in money from gamblers - and much better off than casinos in many other states.


TPG to Take IMS Health Private in $4 Billion Deal
Wall Street Journal, The | 17 days 18 hours 14 minutes ago
ByJEFFREY MCCRACKEN AndPETER LATTMAN IMS Health Inc. agreed to be acquired by private equity firm TPG and the Canada Pension Plan for $4 billion, making it the largest private-equity buyout of 2009.


Blackstone chief says investment outlook improving, confirms up to 8 listings planned
Orlando Sentinel (Fla.) | 40 days 12 hours 58 minutes ago
DUBAI , United Arab Emirates (AP) — The head of private equity firm Blackstone Group said Wednesday the industry's worst days have passed as he confirmed plans to sell up to eight companies through initial public offerings "in the near future."


Golden Gate Fields seeks buyer to saddle up
American City Business Journals | 26 days 15 hours 11 minutes ago
The owner of Albany’s Golden Gate Fields hopes someone else will want to trot off with the storied East Bay horse racing track.


New schedule has Pinnacle Entertainment's Louisiana casino opening in late 2011
Star Tribune (Minneapolis-St. Paul, Minn.) | 34 days 1 hour 50 minutes ago
BATON ROUGE, La. - After nearly a year of delay because of the national freeze in credit markets, Pinnacle Entertainment Inc.'s proposed riverboat casino in Baton Rouge has been put on a schedule that could see the games begin in late 2011.





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Company Overview


Company: Harrah's Entertainment, Inc.
Industry: Gambling Resorts & Casinos
Website: http://www.harrahs.com

Harrah's Entertainment likes to spread its bets. The world's largest gaming company, Harrah's owns, operates, and/or manages about 50 casinos (under such names as Bally's, Caesars, Harrah's, Horseshoe, and Rio), primarily in the US and the UK. Operations include casino hotels, dockside and riverboat casinos, and Native American gaming establishments. Harrah's acquired rival Caesars Entertainment for $9.4 billion in cash, stock, and debt. The deal cemented Harrah's as the world's #1 gaming company, jumping over the merged MGM MIRAGE/Mandalay combination. To appease regulators, Harrah's sold its Harrah's Tunica and East Chicago casinos to Colony Capital. The firm is owned by Apollo Advisors and TPG Capital.


Key Numbers

Sales in U.S. Dollars (mil.) 10,825.2 (2007)
One-year % Growth in Sales 0.0 (2007)
Net Income in U.S. Dollars (mil.) 619.4 (2007)
One-year % Growth in Net Income 0.0 (2007)
Number of Employees 87,000 (2007)
One-year % Growth in Number of Employees 0.0 (2007)
Fiscal Year-End December