Harrah’s to make a strategic acquisition of Planet Hollywood Casino
Posted on February 14, 2010 by John Trevors for Luckyroom.com
After Harrah’s had decided to move the hosting of the WSOP from the historical Binion’s Horseshoe to the Rio Las Vegas; discussion had arise regarding the position of the Rio as although it was in all sense a bigger and better hotel for the event to take place it was not located on the Las Vegas Strip which was an issue for the organizers of the event from Day 1; Harrah’s Entertainment which owns the trading rights of the WSOP brand, logo and website is said to be in discussion of buying Hollywood Casino therefore adding up its properties in the Las Vegas area to nine.
Harrah’s already owns amongst others Caesars Palace, Imperial Palace, Flamingo, Bill’s Gambling Hall and the Rio which is the current home of the World Series of Poker. Planet Hollywood Casino which might be the new home of the WSOP next year onwards is located on the Las Vegas Strip and Harrah’s is said to have bought out a $306 million debt they held for $70 million which has given them 100% of ownership of the Las Vegas Casino.
In 2004, Harrah Entertainment acquired the rights to the WSOP which added up to the moving of the tournament series from its home the Binion’s Horseshoe to Downtown Las Vegas to the Rio, just off the Strip. During 2006 the total number of events that add up the WSOP had been moved away from the Binion’s and completed at the Rio for the first time where the World Series of Poker continues to be hosted this year. View the WSOP 2010 Schedule.
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