Online Casino Transfer: News - Harrah's Reconsiders Public Listing

03/05/2010		Online Casino Style: News Harrah's Reconsiders Public Listing
Home History Games News Dictionary		The US gambling dominator Harrah’s Entertainment is back in the online gambling news this week as speculations rise regarding the company’s intention to possibly return to a public listing. The group got plenty of attention in 2009 as executives made way to join the internet gambling world by opening up a whole new sector, and planned to establish a strong foundation overseas on which they would be prepared for the US market when the time came. According to the most recent statement by chief executive officer Gary Loveman, the firm has tentative plans to return its ownership structure to a public listing in the next three to five years. Harrah’s power comes from their success as a land-based casino tycoon, with the company playing a huge part in the Las Vegas scene. Just so, their announcement that they’d be adding online gambling to their resume of markets in the coming years excited fans and players just as much as it concerned fellow internet casinos. This week, Loveman gave a statement to the press through Reuters Travel and Leisure Summit in New York, giving a bit of insight into what 2010 will hold for the company. Of course, no decisive plans were revealed with much of Loveman’s statement open to interpretation as possibilities and potential considerations by the group’s board. Some analysts are going so far as to say that some of the mentions were for reactions alone. No talks have even been initiated with the private owners TPG and Apollo Management, who took over the gambling giant in January of 2008. At that point, it was taken off the public market and sold for a pretty penny summing to $31 billion. As the economic difficulties continue, however, Harrah’s is looking at returning to the public listing sector as a possibility for revenue. Loveman did clarify that if that becomes a reality, Harrah’s would be far more likely to make the move in a gradual manner, rather than ‘one fell swoop.’

03/05/2010

Online Casino Style: News
Harrah's Reconsiders Public Listing

The US gambling dominator Harrah’s Entertainment is back in the online gambling news this week as speculations rise regarding the company’s intention to possibly return to a public listing. The group got plenty of attention in 2009 as executives made way to join the internet gambling world by opening up a whole new sector, and planned to establish a strong foundation overseas on which they would be prepared for the US market when the time came. According to the most recent statement by chief executive officer Gary Loveman, the firm has tentative plans to return its ownership structure to a public listing in the next three to five years.

Harrah’s power comes from their success as a land-based casino tycoon, with the company playing a huge part in the Las Vegas scene. Just so, their announcement that they’d be adding online gambling to their resume of markets in the coming years excited fans and players just as much as it concerned fellow internet casinos. This week, Loveman gave a statement to the press through Reuters Travel and Leisure Summit in New York, giving a bit of insight into what 2010 will hold for the company.

Of course, no decisive plans were revealed with much of Loveman’s statement open to interpretation as possibilities and potential considerations by the group’s board. Some analysts are going so far as to say that some of the mentions were for reactions alone. No talks have even been initiated with the private owners TPG and Apollo Management, who took over the gambling giant in January of 2008. At that point, it was taken off the public market and sold for a pretty penny summing to $31 billion. As the economic difficulties continue, however, Harrah’s is looking at returning to the public listing sector as a possibility for revenue. Loveman did clarify that if that becomes a reality, Harrah’s would be far more likely to make the move in a gradual manner, rather than ‘one fell swoop.’