The sale of Harrah's is getting closer

The state of Nevada agreed to the sale of Harrah’s Entertainment to a private consortium. The "National Indian Gambling Commission" now has to give its OK to settle the deal.

In April
2007, the share holders of Harrah's Entertainment already agreed to sell the
company to a private consortium. Since then many international regulatory agencies
had to agree to the sale. The EU as well as most American states had already
given their OK. They then waited for the testimony of the state of Nevada, which was
supposed to guide the rest of the process. Nevada followed the advice of the "Nevada
Gaming Control Board", which recommended approving of the sale. The only voice
missing now is the "National Indian Gambling Commission", which is
expected shortly. If everything works out smoothly, the sale is going to
take place in early 2008. The companies Apollo Management and TPG Capital will buy the
company. They are both specialised in off-exchange holdings.