According to The Associated Press Harrah’s Entertainment Inc., the world’s largest casino company has agreed to a $16.7 billion offer from two private equity groups.  The two groups are Apollo Management Group and Texas Pacific Group.An Official Announcement may come as early as today Dec 19^th 2006.  Harrah’s buyout price is $90 a share around 36% more than the price on Sept 29^th.  The two groups will assume $10 billion in dept.Harrah’s plans for their development will probably be put on hold.  These two groups are equity firms and will probably sell Harrah’s in 5 years, make them public again so they can make a profit and attract money from pension plans.

Harrahs is now going to try and comp shoppers with all the kickbacks that Casino Gamers receive.  With Las Vegas earning less at the tables and slots it has noticed there it a lot of shopping going on.  With that perspective, Harrahs is banking on the people spending there money at the forum shops and rewarding them with everything from Rooms to free meals.

Harrahs has already started this with there total rewards credit card, which is a great deal if you go to Vegas alot and stay in Harrahs properties.  This is a pretty good secret, so do not let it out.

Harrah’s is planning changes at Caesars Palace. The outdoor area with the cement grand stands, bar and carry-out window, to the left of Caesars Palace if you are looking at the casino from the strip, will be torn down and replaced with more casino floor space.

I was not too pleased with the previous construction because it came all the way out to the sidewalk by the Strip, Las Vegas Blvd.  Caesars Palace had a great presentation from the Strip with the fountains, very picturesque; when the pavilion was built it crowded the fountains and the view.  Another gripe is the extended forum shops and the theater is also crowding the strip.  Most of you will hate the fact I wish the moving sidewalks were back.  I loved telling the story about how Caesars Palace will let you relax and ride the people movers on the way in but make you hike to get back out. From the rumor mill: Expect another hotel tower to be built on the southwest corner, behind the Augustus tower.   -Check the building commision for the latest news  -Thanks Five hundy - Five Hundy by Midnight website