Knightly, Arnold M.
March 2009
Las Vegas Business Press (10712186);3/2/2009, Vol. 26 Issue 9, pP18
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.


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