April 24, 2015
Casino operator Harrah's Entertainment Inc. is extending the contract of company Chairman, President and Chief Executive Gary Loveman.
Harrah's says Loveman is expected to stay in those roles after its pending buyout is complete.
Harrah's is being taken private by affiliates of Texas Pacific Group and Apollo Management LP in a $17.1 billion transaction that would be the world's largest casino buyout deal.
The company says the acquisition is expected to close early this year.
Loveman is expected to receive more than $90 million in stock options and other rights under terms of the deal.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.