Harrah’s Entertainment announced today it plans to offer $720 million in a private offering of new eight-year notes as the gaming company looks to decrease its debt load.

Second-quarter earnings announced earlier this year, Harrah’s said its Las Vegas revenue fell 19.2 percent compared to the second quarter of 2008, from $873.1 million to $705.2 million. That contributed to an overall 12.7 percent decline in quarterly revenue for the world’s largest casino operator, from $2.602 billion in 2008′s second quarter to $2.271 billion in the 2009 second quarter. 9 (Las Vegas Sun)

Hurt by the recession, its operating profit worldwide fell from $469.8 million in the 2008 quarter to $416.7 million in the 2009 quarter.

The Rooms at Harrah’s properties are at an all time low, but after looking over the room rates, why doesn’t it feel like it? I checked into a Room at Caesars Palace for a weekend and the rate was over $750.

Harrah’s is acquiring Barbary Coast. Yahoo News

Harrahs Casino Company Harrah’s Gets Buyout Offer of $15 Billion, or $81 Per Share Yahoo News

9/25/06
Harrahs / Harrah’s Entertainment said people should expect an announcement about their plans for the recent acquisitions in Mid-December.We have heard that there will be a 10+ year plan that would include making one big resort out of all of the properties.Also, there have been rumblings of Harrah’s changing their name to “Caesars”.I am not sure how this will all shake out with Harrah’s. I am not really sure how I like Harrah’s owning so much property and turning it into Disneyworld. In some ways I miss old Vegas, but at the same time I am excited about the new Vegas.

www.vegashipster.com/hotel/Harrahs
www.vegashipster.com/hotel/rio_all-suite
www.vegashipster.com/hotel/Caesars_Palace
www.vegashipster.com/hotel/Imperial_Palace
www.vegashipster.com/hotel/Flamingo
www.vegashipster.com/hotel/Paris_Las_VegasLet me know if I missed one.
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Nick
www.vegashipster.com