LAS VEGAS (AP) - Gambling giant Harrah's Entertainment Inc. and
a casino operator have suspended plans for a more than $1 billion
resort in Nova Gorica, Slovenia.
Harrah's says it was unable to reach an agreement on a management contract with the Slovenia-based Hit Group.
The casino would have been Eastern Europe's largest, with 1,500
rooms, 2,000 slot machines, table games, and other amentities in
western Slovenia, near the border with Italy.
Harrah's also recently withdrew from a proposed $2.6 billion resort project in the Bahamas. Harrah's says the timing of the Slovenia and Bahamas withdrawals was coincidental and not a cost-cutting measure related to a recent buyout of Harrah's by a pair of private-equity firms.
Harrah's was bought for nearly $18 billion by private-equity firms TPG Capital and Apollo Management late last year.
Information from: Las Vegas Review-Journal, http://www.lvrj.com
(Copyright 2008 by The Associated Press. All Rights Reserved.)