Harrah's has been sold

[philcski]

Originally Posted by eurobounce

I thought they said that there werent any plans to sell any properties???? But I would think after a couple of year they will start to sell the "property."

Trust me, this deal isn't getting done tomorrow by any means. It'll be a year or two before they really start moving real estate. Both private equity firms will have to get licensed in every jurisdiction Harrah's operates before any handover can occur; on top of that, the first thing that will happen is the current outstanding debt will be repackaged or securitized. This will take time, of course, as well.

P.S. this is my REAL job so i'm not totally full of sh!t