Harrah's adjusts conversion price of floating-rate notes due 2024

By Angela McDaniels

Seattle, Aug. 10 - Harrah's Operating Co., Inc., a subsidiary of Harrah's Entertainment, Inc., revised the conversion price of its $375 million floating-rate contingent convertible senior notes due 2024 to $65.54 from $65.85.

The adjustment was made under the terms of the indenture as a result of the cash dividend of $0.40 per common share of Harrah's Entertainment stock that was declared on July 19, according to a company news release. The dividend will be payable on Aug. 22.

Harrah's Entertainment is a casino operator based in Las Vegas.

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