Word: harrah
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...right now. It's so hot, even the people who own the town are spending money here. Last month, 87-year-old multibillionaire Kirk Kerkorian cut a deal to merge his MGM Mirage with Mandalay Resort Group to form the world's largest gaming company--until last week, when Harrah's Entertainment agreed to buy Caesars Entertainment in a $9.25 billion deal (including cash, stock and debt) that would create an even bigger company. Sheldon Adelson, the 70-year-old owner of the Venetian, is contemplating an IPO to score some cash to make a bigger...
...even the people who own the town are spending money here. Last month, 87-year-old multibillionaire Kirk Kerkorian cut a deal to merge his MGM Mirage with Mandalay Resort Group to form the world's largest gaming company - until two weeks ago, when Harrah's Entertainment agreed to buy Caesars Entertainment in a $9.25 billion deal (including cash, stock and debt) that would create an even bigger company. Sheldon Adelson, 70, the owner of the Venetian, is contemplating an ipo to score cash to make a bigger bet on a new Strip hotel, the Palazzo, and other properties...
...magazine Inside Edge. "The Mirage [in Vegas] has 150 blackjack tables; I go to a casino in London that has only three." With that kind of room for growth, Vegas has responded with a flurry of U.K. deals. The MGM Mirage plans to build a handful of midsize casinos, Harrah's seeks to sprinkle 8 to 10 smaller facilities throughout the country, and the Sands wants to install spiffy entertainment complexes at a few British soccer stadiums. But Britain's most sought-after locale, London's Millennium Dome, went to Kerzner International, best known for the coral-pink Atlantis resort...
...More Bets? Forging the world's largest gambling firm, Harrah's Entertainment agreed a $9.4 billion deal to buy rival U.S. operator Caesars Entertainment. The tie-up eclipses last month's $7.9 billion takeover of Mandalay Resort Group by MGM Mirage. Both bids await regulatory approval...
...even rest rooms. The latest entrant in the captive game: choo-choos for the Wayne Newton crowd. The $650 million Las Vegas Monorail, scheduled to open early next year, will run along the east side of the fabled Strip, carrying gamblers between casinos like the MGM Grand and Harrah's. Several companies will sponsor multicar trains, blanketing each car with logos and promotions. Hansen's Beverage has signed a 10-year, $10 million deal to sponsor the Monster train (named for its Monster Energy drink) and plans to give drink samples to passengers and display video ads. "We prefer...