Harrah’s acquires the Barbary Coast (Press Release)

LAS VEGAS — (PRESS RELEASE) — A subsidiary of Harrah’s Entertainment, Inc. (NYSE:HET) today announced it entered into a definitive agreement with a subsidiary of Boyd Gaming Corp. (NYSE:BYD) to exchange certain real estate Harrah’s controls near Boyd’s Stardust site on the Las Vegas Strip for Boyd’s Barbary Coast property, located at the northeast corner of Flamingo Road and Las Vegas Boulevard. With this acquisition, Harrah’s will have substantially completed its land assemblage goals for Las Vegas.

Harrah’s did not disclose additional terms of the agreement, which is subject to certain regulatory approvals. The expected closing date of this transaction is first quarter 2007, subject to receipt of all necessary governmental approvals.

The addition of the Barbary Coast to Harrah’s holdings in the area considerably strengthens the company’s ability to create a destination experience within the Las Vegas market.

“The site we control, some 350 acres, is of unprecedented proportion at one of the most famous intersections in the world,” said Charles L. Atwood, vice chairman of the board for Harrah’s. “This large site is intended to give us many years of development potential and the flexibility to grow our future earnings without undue interruption of our current earnings stream. The fact that our total site will have a cost of approximately $13 million per acre on average is strong evidence of our intention to develop this opportunity with a keen eye toward excellent returns on investment.”

Harrah’s now holds or has agreed to acquire a total of nearly 350 acres in Las Vegas encompassing the area between Paris Las Vegas to the south, Harrah’s Las Vegas to the north, Koval Avenue to the east and the Rio to the west.


Cab Money what’s that?

Players: Me

I flew out with a friend for a day trip a while back and did the mandatory 40-mile march up and down the strip. So we proceeded to gamble and have a swinging time. The day grew short and we needed to head back to the airport to catch a lift home. So we proceeded to the corner and flagged down a cab. I was asked by my dame “do you have enough dough.” I checked my wallet. Puzzled by the vacancy, I asked her “how much you’s got?” I got the look of puzzlement from her too. She began reminiscing about all of my money she lost playing slots. We were down by the Circus Circus with no bread. I had 35cents to my name. I could’ve swiped my card, but being the player that I am, I bet 25cents of my last 35 and hit. Needless to say I am not stranded.

Hoagy’s run-in with the sky-galley

Players: Shepherd

Lucky me, I was sitting in First Class (FC) and was feeling a bit spry. So I went back to see the boys in coach, to find out what shenanigans they were up to. After a short visit I felt compelled to go back in first class ask the flight attendant to fill a drink order for my mates back in coach. She thought that was a nice gesture and rounded up some Bloody Mary’s, and delivered the goods. Minding my own business I reclined and put my phones on and started dozing off. WHAM, the next thing I knew my right headset was covering my right eye and the FA gave me the dirtiest look I have seen in a while, and said, “They didn’t know you!!” Found out later that Shepherd told the FA that I have been stalking them ever since they were in the men’s bathroom in our departure city. WOW, that FA was MAD! As a side note she realized the prank after we all boarded the plane after our layover.