Harrah's Entertainment deal with Apollo, TPG granted two more approvals

By Lisa Kerner

Charlotte, N.C., Dec. 11 - The Louisiana Gaming Control Board and the Iowa Racing and Gaming Commission approved the acquisition of Harrah's Entertainment, Inc. by affiliates of Apollo Management, LP and TPG Capital.

The transaction remains subject to approval by other jurisdictions, according to a company news release.

The companies entered into the plan of merger in December 2006.

It was previously reported that under the Dec. 19, 2006 agreement, Harrah's stockholders will receive $90 per share of Harrah's stock in the all-cash transaction, including the assumption of about $10.7 billion of debt.

Las Vegas-based Harrah's provides branded casino entertainment.

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