Harrah's has been sold

[philcski]

Originally Posted by eurobounce

Two Private Equity Groups has purchased Harrah's. I wonder if this will have any effect on the race tracks that Harrah's own.

They will "shed the fat". Debt will be repackaged and part of the refi will likely require the divestiture of non-core assets (such as La. Downs.)

The first property to go will likely be the Rio, according to analysts.