Will Harrah's buy the Palms Casino?

Harrah's buying up Palms debt If Harrah's buys the Palms it will really cut down competition.

That is SAD.

Ugh. The Palms has some of the best video poker in town. That won't be true once HET gets a hold of them. Here's hoping they fail.

I dont have the figures, but I get the impression that the Palms is on a slightly more secure footing than Planet Hollywood was. harrah's buying up the debt doesnt mean there will be a definite takeover, but it does make it look more likely.

However this being said having just acquired PH, I think harrah's would be stupid to try and get another property under their belts this soon, before they have PH running at a profit.

Doesnt mean harrahs wont do it though.

Quote: Croupier

I dont have the figures, but I get the impression that the Palms is on a slightly more secure footing than Planet Hollywood was. harrah's buying up the debt doesnt mean there will be a definite takeover, but it does make it look more likely.

Takeover attempts fail, but I assure you that Harrah's is not looking for a secure place to park their money. Carl Icahn would end up in money lending situation for years, but eventually he would own the place. To date, as far as casinos are concerned, he never lost. He hasn't bought every company he's tried to, but he got most of them as well.