Harrah's buyout connection?

nhtool · #1 10-02-2006, 05:13 AM

link

"Private equity suitors are close to arranging a deal to buy casino giant Harrah's Entertainment Inc. (HET.N: Quote, Profile, Research), The Wall Street Journal reported on Monday."

There absolutely has to be a connection here with the online gambling laws. This is a very positive development. But I haven't had time to think about it.

Ron Burgundy · #2 10-02-2006, 05:14 AM

Link no good.

MyTurn2Raise · #3 10-02-2006, 05:15 AM

no connection with online at all

pennpal · #4 10-02-2006, 05:16 AM

fixed?

nhtool · #5 10-02-2006, 05:20 AM

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no connection with online at all

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you're probably right. when i heard about it my initial reaction was that new people might be moving in to push harrah's towards the online market. but i've been up all night and looking for any shred of hope.

the link should work now but if not just google search harrah's

link again

Dynasty · #6 10-02-2006, 05:20 AM

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fixed?

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That link is good.

You don't by $12.3 billion dollar companies because without lots of consideration far in advance. Besides, poker is a very small part of Harrah's revenues even with the WSOP.

erastank · #7 10-02-2006, 05:21 AM

Think outside the box.

Ron Burgundy · #8 10-02-2006, 05:21 AM

Great journalism there. "Harrah's might get bought out... by some company we don't know... or they might not..."

nhtool · #9 10-02-2006, 05:37 AM

[ QUOTE ]
[ QUOTE ]
fixed?

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That link is good.

You don't by $12.3 billion dollar companies because without lots of consideration far in advance. Besides, poker is a very small part of Harrah's revenues even with the WSOP.

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This legislation has been in the works for years...plenty of time for businessmen to come up with plans for purchasing a major gambling company if it goes through. It seems way coincidental that on the same day PartyGaming and the other online sites are crashing, a huge U.S. B&M gambling corporation is for sale. Maybe they're trying to buy Harrah's because they anticipate the OG ban will increase B&M revenue. Or maybe they feel that Harrah's will be able to move in with something to fill the online void left by these sites. I really have no idea what's going on, but it seems like there has to be some connection.

I'd been trying to convince myself that the eventual salvation of online gambling in America lies in a company like Harrah's, so I'm trying to find a connection here that looks positive. What that connection is, from a logical standpoint, I'm not sure.

pj4533 · #10 10-02-2006, 11:08 AM

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no connection with online at all

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I don't mean to be tinfoil-hat-esque but:

http://www.bloomberg.com/apps/news?p...d=aHc9CwwW0RNg

" The American Gaming Association, which represents casino operators based in Las Vegas and elsewhere, had asked Congress to fund a commission that would study whether online gambling can be regulated and taxed in the U.S. The lobby group's hope is a study may eventually let major casino operators such as MGM Mirage and Harrah's Entertainment Inc. enter the online business.

Harrah's shares rose in Europe today after the Wall Street Journal said a group of private equity firms is close to an agreement to buy the company. "