Harrah's CEO defends Caesars deal

07/27/2004 | Bloomberg Businessweek

Harrah's Entertainment Chief Executive Gary Loveman says in a BusinessWeek interview that the casino giant's decision to acquire Caesars Entertainment was based on Caesars' ability to increase the company's gaming distribution in Las Vegas, Detroit and Southern Mississippi. Harrah's stock has taken a 16.5% dive since the July 15 announcement of the $9.4 billion deal, but Loveman says some large investors do like the deal.

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