Harrah's buying Casino Magic, Leucadia buys into Hard Rock

19.04.2006, Lesen Sie hier den Bericht über «Harrah's buying Casino Magic, Leucadia buys into Hard Rock».

BILOXI, Miss. (AP) — Harrah's Entertainment is acquiring more land on the storm-ravaged Mississippi coast and plans to sell two riverboats in Louisiana. Harrah's announced Monday that it had signed a letter of intent with the casino's parent company, Pinnacle Entertainment, to acquire 18-acres of Casino Magic property in Biloxi.

The land, which is next to Grand Casino Biloxi on the south side of U.S. 90, includes a parcel that is part of a long-term lease.

"We believe in the long-term potential of the Mississippi Gulf Coast and are looking forward to returning to this vibrant market," said Anthony Sanfilippo, president of Harrah's operations for the central United States. "The site we are acquiring from Pinnacle will give us an even larger footprint in Biloxi, giving us greater flexibility in creating a compelling entertainment experience."

Harrah's plans to reopen Grand Casino Biloxi this summer. The company did not say what plans it has for the Casino Magic property.

Harrah's also plans to sell two Lake Charles, La., riverboat casinos later this year to Pinnacle Entertainment Inc., though it is unclear whether they will remain in southwest Louisiana, casino officials said Monday.

In other gaming developments, Leucadia National Corp., a New York-based holding company, is buying ownership in the Hard Rock Biloxi for $89 million. The company said and will also offer to buy $160 million in bond debt owed on the casino resort.

The sale will take place on or before May 4. Leucadia said it will "indirectly acquire" ownership in a filing with the Securities and Exchange Commission.

The Mississippi Gaming Commission is scheduled to consider the proposed acquisition of control on Thursday. Leucadia will place new members on the board of directors and have control of the board.

There were 12 casinos on the Mississippi coast before Hurricane Katrina pummeled them on Aug. 29. Some have reopened in temporary locations while others have focused on repairing damages to their old gambling halls. USATODAY.com

Über Harrah's New Orleans:

The AAA Four Diamond Award-Winning Harrah's Hotel is located in the heart of the world's most exhilarating city. This 26-story marvel, with 450 oversized luxurious rooms and suites, provides an unparalleled escape. Rooms feature deluxe beds with Simmons Beautyrest pillow-top mattress, high-definition flat screen televisions and wireless internet.

With the spectacular views of the Mississippi River, New Orleans' skyline and just steps from the French Quarter, Convention Center and a few blocks from the Superdome, there is no better place to stay in New Orleans than Harrah's New Orleans luxury hotel.

In the world's most exciting city and just steps from the French Quarter, you'll find over 2,100 of the newest, hottest slots plus plenty of action-packed table games. We've got the games you want to play! From slots and roulette to baccarat and poker, you'll find all the action at Harrah's New Orleans. Enjoy over 115,000 square feet of gaming 24 hours a day. Harrah's New Orleans offers 10 varieties of table games and more than 100 tables, 20 of which are poker tables. Slot denominations range from penny slots to $500!

Must be 21 or older to enter casino and gamble. Valid ID required for entry.

Das Casino gehört zu Caesars Entertainment. Caesars Entertainment Inc. wurde 1937 als Harrah's gegründet und wurde 2010 in Caesars Entertainment umbenannt. Besitzer sind die Investment-Firmen Apollo Global Management, TPG Capital und The Blackstone Group.

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