LOOKS AS THOUGH THE DEAL IS ALMOST DONE - HARRAH'S ENTERTAINMENT AWAITS THEIR NEW OWNERS

Implications: What actually is on the mind of the new ownership of Harrah's? They have been very tight lipped about where they might be headed at the start of this new relationship. They are sitting on some land that Harrah's has paid substantial numbers for. It will be a hard choice to let the project stay status quo for any length of time.  I think there will be some announcement when this purchase is completed in a few weeks.

Analysis: Looks as though Harrah"s Entertainment, Apollo Management and TPG Capital will be one family very soon. The Nevada Gaming Commission has seen fit to approve this buyout. The Indian Gaming Commission has yet to follow suit. It is expected that they will also fall in line within the next few weeks. It would be a hard deal not to allow to go through and Indian Gaming usually takes the same position that Nevada does. So, in not so many words it looks like a new era has just about arrived for Harrah"s Entertainment. It would be my feel that they have already given much consideration of selling some of their under achieving properties and recapture some hard dollar investment. My guess is, they may also be looking to sell one of their Las Vegas properties. The rumor mill has been very strong about them possibly getting the Rio Hotel on the sales block. Remember it's only rumor at this point.

Harrah's recently got themselves in some trouble with Las Vegas Building and Planning for making improvements at the Rio and Harrah's without getting the needed permits. Should have been an easy fix if they would have addressed it immediately. Seems that some of the employee's took it upon themselves to save the company some cash and work without the permits. They really should have known better. It could mean a head or two might roll for this lack of judgement.

Since the end of 2007 is rapidly approaching, I thought I would bring you up to date on what has happened in this year . Harrah's put together 350 plus acres on the strip for a proposed mega resort - The Sands is getting ready to open their new resort - Wynn Las Vegas has topped off their their new property next to the existing Wynn - MGM is the midst of a mega resort construction - An Israeli group purchased the Frontier and is ready to start construction on a $5 Billion property - Boyd Group in in the process of  a multi billion dollars project on the sight where the Stardust was - The Sahara was purchase by an Los Angeles Entertainment group - The Tropicana sold to Columbia Sussex - James Packer enters the Las Vegas market by buying the Cannery Properties and much, much more. Just a taste of what is going on. So, at this point it looks pretty good for the Las Vegas gaming market - who knows what 2008 will hold......