Harrah’s going private
December 20, 2006Harrah’s, which owns Caesar’s among numerous gambling properties, has agreed to a private buyout for $17 billion. Personally I think that’s a bad thing, Harrah’s already was a horrible new owner for the Caesar’s Indiana. It’s not nearly as well-run now as when it was independent, there’s obvious evidence of cost-cutting going on there. I’m sure things will get only worse with a new owner that has to finance $17 billion in new debt.
Because of the changes I’ve only been to Caesar’s Indiana a couple times this year, when last year I would go probably once a month. I am part Chinese after all, we have a well-known gambling gene. It’s especially bad with Chinese women–when my Mom or her sister are in the casino don’t even think about pulling them away from the slots until they are completely broke.
It’s sad to see the decline, I have to go try the new French Lick casino and see if they’re better.