Harrah’s Next Move in the Planning
Under a leading private equity fund’s majority ownership, Vail Resorts bought up resort hotels and other real estate which includes casinos. This group has been expanding its vacation empire, taking Vail public in 1997 and selling most of its stake in the company in 2004. This company now controls one of the leading casino names in the world – Harrah’s Entertainment – and it is trying to decide what it is going to do next with this major enterprise. When it comes to casinos, Harrah’s is as big a name as leading online casino groups are to the online casino industry.
It is important to note that there is more to leveraged buyouts than a cut and dry approach to management. For now, it is unclear how aggressively Harrah’s will pursue the many growth opportunities it has in Las Vegas and beyond. ‘This is an R&D exercise more than a construction drawing exercise at this point,’ said CEO Jonathan Halkyard regarding the casino company. According to Halkyard, the company is still planning to redevelop its Las Vegas casinos. Could this mean entering the online casino industry and becoming a household name among online casino fans? Only time will tell if this sector is in the horizon for this company.
This is how business is when it comes to major corporations and the casino environment. So many companies are looking for ways to either branch out into this industry or simply improve within it to become a competitive entity. The online casino market is similar in this regard to the land-based casino industry. Online casino groups are constantly trying to outdo one another to rule the roost in online gambling.
What Harrah’s next move will be remains to be seen. It will be up to the pros to choose the future direction for this famous company. In the meantime, talks will surely include whether or not to enter the online casino industry, and if it would be good for business. With the popularity of the online casino market, it might be a viable option for Harrah’s Entertainment.