Harrah's Entertainment Inc. bought $140 million of the debt tied to the Planet Hollywood Resort & Casino in Las Vegas, giving Harrah's a role in the fate of the struggling property.
Harrah's purchase of the debt from Goldman Sachs Mortgage Co., a unit of Goldman Sachs Group Inc., came last week, just a day before the casino defaulted on its $860 million mortgage by failing to make its monthly interest payment, according to people familiar with the matter. The mortgage's servicer, KeyCorp, sent the casino's owners a default notice Thursday, these people say
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