TITLE

HARRAH'S MOVE MIGHT SUGGEST BANKRUPTCY NEAR

AUTHOR(S)
Knightly, Arnold M.
PUB. DATE
March 2009
SOURCE
Las Vegas Business Press (10712186);3/2/2009, Vol. 26 Issue 9, pP18
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reveals that a decision by Harrah's Entertainment to draw down the $740 million remaining on its credit line could be an indication of a financial restructuring plan, according to finance professor Michael Sullivan of the University of Nevada. A Securities and Exchange Commission filing by the casino firms states that the funds will be used for general corporate purposes. Sullivan points out that Harrah's is facing the same financial woes as its rivals such as Station Casinos.
ACCESSION #
40538899

 

Related Articles

  • Harrah's may think bankruptcy. Knightly, Arnold M. // Las Vegas Business Press (10712186);2/23/2009, Vol. 26 Issue 8, pP15 

    The article reports on the possible financial restructuring or filing for Chapter 11 bankruptcy of casino operator Harrah's Entertainment. According to a filing with the U.S. Securities and Exchange Commission, the firm is requesting to draw down the $740 million remaining on its $2 billion...

  • HARRAH'S FILES PAPERWORK TO HOLD PUBLIC OFFERING. Stutz, Howard // Las Vegas Business Press (10712186);11/1/2010, Vol. 27 Issue 44, pP12 

    The article reports on the move of Harrah's Entertainment to file documents to return to the public markets with an aim to raise more than 500 million U.S. dollars.

  • Caesars Palace project stays on schedule. Stutz, Howard // Las Vegas Business Press (10712186);8/18/2008, Vol. 25 Issue 33, pP14 

    The article reports that Harrah's Entertainment will pursue with the expansion at Caesars Palace in Las Vegas, Nevada on August 7, 2008. Despite the $9.6million net loss and halting construction of several Strip projects by competitors, the $1billion project will continue because, according to...

  • IDENTITY HEFT. STUTZ, HOWARD // Las Vegas Business Press (10712186);2/21/2011, Vol. 28 Issue 8, pP6 

    This article focuses on the corporate rebranding trend in the U.S. gaming industry. MGM Mirage changed into MGM Resorts International in June 2010, while Harrah's Entertainment rebranded to Caesars Entertainment in November 2010. There is a plan by Las Vegas Sands Corp. to drop Las Vegas from...

  • Observers unfazed by resignations at Harrah's. McKee, David // Las Vegas Business Press (10712186);1/8/2007, Vol. 24 Issue 2, p1 

    The article discusses issues related to the high-level executive resignations at Harrahs' Entertainment. The resignations of Senior Vice President of Operations Tony Santo and Central Division President Anthony Sanfilippo which became effective on January 1, 2007 and COO Tim Wilmott, effective...

  • Global slowdown hurting major casino players.  // Casino International;Dec2008, p2 

    The article reports that major casino operating companies declared significant business losses for the third quarter of 2008. Las Vegas Sands, Harrah's, and Trump all announced losses, which were attributed to the recession. Las Vegas Sands raised more capital through a stock issue, as an...

  • Harrah's expands hotels in Vegas, Atlantic City.  // Hotel & Motel Management;9/4/95, Vol. 210 Issue 15, p46 

    Reports on Harrah's Entertainment Inc.'s announcement of a major expansion plans for two casinos-hotels in Las Vegas and Atlantic City, New Jersey.

  • Harrah's, Rio shareholders approve merger.  // Las Vegas Business Press;11/23/98, Vol. 15 Issue 47, p22 

    Focuses on shareholders' approval of the merger proposal between Harrah's Entertainment Inc. and Rio Hotel and Casino in Las Vegas, Nevada.

  • The big game begins. Maginnis, John // New Orleans CityBusiness (1994 to 2008);5/8/95, Vol. 15 Issue 44, p5 

    Opinion. Comments on the opening of the Harrah's Casino in New Orleans, La. Casino's opening as New Orleans' entry into the gambling business; Effects of the casino operations on the New Orleans economy.

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics