All regulatory approvals obtained in Harrah's merger with Apollo, TPG affiliates

By Lisa Kerner

Charlotte, N.C., Dec. 24 - The National Indian Gaming Commission approved the acquisition of Harrah's Entertainment, Inc. by affiliates of Apollo Global Management, LP and TPG Capital.

As a result, all regulatory approvals needed to close the transaction have been obtained, according to a company news release.

Harrah's announced the receipt of approval from the Nevada Gaming Commission on Dec. 21.

Regulatory approval was also obtained from several jurisdictions including Illinois, Indiana, Iowa, Louisiana, Mississippi, Missouri, New Jersey and Pennsylvania.

It was previously reported that under the December 2006 merger agreement, Harrah's stockholders will receive $90 per share of Harrah's stock in the all-cash transaction valued at about $27.8 billion.

Harrah's expects the transaction to close in early 2008.

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

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