Harrah's Entertainment said this morning it is planning an initial public offering in order to raise at least $500 million for several development projects, including the completion of a hotel tower at Caesars Palace.
In documents filed with U.S. Securities and Exchange Commission, Harrah's said it would sell an unspecified amount of shares "to fund a near-term pipeline of growth projects and for general corporate purposes."
In documents filed with U.S. Securities and Exchange Commission, Harrah's said it would sell an unspecified amount of shares "to fund a near-term pipeline of growth projects and for general corporate purposes."
The Las Vegas-based company said the money would be used to build LINQ, a retail, dining and entertainment area between the Imperial Palace and the Flamingo, and complete the Octavius tower at Caesars Palace, which has 660 hotel rooms. Harrah's said completion of the Caesars tower will cost $85 million.
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