Harrah's Entertainment
Competing for Pennsylvania Licenses
12/30/2005
This week it was reported that Harrah's
Entertainment Inc. (HET) filed applications for Pennsylvania
slot-machine gaming licenses. The location of the licenses
are Philadelphia, Pittsburgh, and the Chester Downs racetrack
near Philadelphia.
Pennsylvania is conducting a license lottery
for several stand-alone casino licenses in the state. The
licenses are expected to be awarded by the end of 2006. With
the licenses allowing up to 5,000 slot machines, many casino
companies are eager to obtain the gaming licenses.
Harrah's Entertainment is a part of our
Bear
Market Portfolio.
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