Harrah's Edging Closer to Planet Hollywood Ownership
Harrah's Entertainment CEO Gary Loveman informed employees that Harrah's was continuing in their efforts to acquire the Planet Hollywood Resort on the Las Vegas strip. The acquisition of the property would give Harrah's control of east side strip frontage from Flamingo Road to Harmon Avenue. The additional 35 acres at Planet Ho would bring Harrah's total to 126 acres and add another 2,500 rooms to Harrah's existing 20,370 room total in Las Vegas.
Loveman indicated that the take over is part of Harrah's continuing opportunistic strategy to acquire select properties during the current economic downturn.
