Harrahs gets Final Approval on Record Buyout

Monday marked a big day in the Casino industry. All year Harrah’s has been working on a buyout by Apollo Management, and Texas Pacific Group, private equity buyers. The sale, worth $17.7 billion will be the largest casino sale ever. The National Indian Gaming Commission was the last approval needed in the year long battle. Last week, the Nevada Gaming Commission approved the sale. Louisiana, Missouri, Mississippi, Illinois, and Iowa have previously approved the deal. Harrah’s expects the deal to be finalized in the beginning of 2008.

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