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Harrah's four Atlantic City casinos earn license renewal

19 June 2008

ATLANTIC CITY, New Jersey -- As reported by the Press of Atlantic City: "All four Atlantic City casinos owned by gaming giant Harrah's Entertainment Inc. were awarded new five-year licenses Wednesday despite complaints by union officials that the company is stalling on negotiations for a labor contract.

"The New Jersey Casino Control Commission also approved affiliates of Apollo Management and TPG Capital as the new owners of the world's largest casino company. Apollo and TPG, two private equity firms, bought Harrah's Entertainment in January in a $17.1 billion deal that included the Harrah's Resort, Bally's, Caesars and Showboat casinos in Atlantic City.

"...Although gaming regulators praised Harrah's for its financial stability and casino operations, members of the United Auto Workers union claimed the company has been unwilling to negotiate a new contract for dealers at Bally's..."

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Harrah's four Atlantic City casinos earn license renewal is republished from Online.CasinoCity.com.