Harrah’s sale receives desired approval by National Indian Gaming Commission

December 27th, 2007
Harrahs

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The last regulatory hurdle has been cleared for the largest casino sale ever, with the Apollo Investment Corporation Texas Pacific Group set to finalize purchase of Harrah’s Entertainment early next year.

Harrah’s made the announcement in a December 24 press release:

Harrah’s Entertainment, Inc., today announced that the National Indian Gaming Commission (NIGC) notified Harrah’s that it will allow the consummation of the proposed acquisition of Harrah’s by affiliates of Apollo Global Management, L.P. and TPG Capital to proceed while the NIGC finalizes its review. There are no remaining regulatory approvals needed to close the transaction.

The agreed-upon $90 per share adds up to a $17.7 billion price tag for the popular brand.


Article Credit: Robin

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