Casino News

Harrah's believes economy will recover

2008-07-24 15:37:09

Harrah's Entertainment expects the US economy to recover in the long-term - although it is not sure exactly when this will happen.

In an interview with the Las Vegas Sun, Gary Thompson, spokesman for the Apollo Management and Texas Pacific Group-owned casino giant, said his company is hopeful that the financial situation will improve, although it is still being careful.

"We wouldn't be building a billion-dollar expansion at Caesars if we didn't have confidence in the economy longer term," he added.

Harrah's owns dozens of casino resorts across the US, including the famous Caesars, Horseshoe and Bally's brands.

It also operates the World Series of Poker, which takes place every year at the Rio All-Suite Hotel & Casino in Las Vegas.

Poker star Daniel Negreanu complimented Harrah's before the 2008 event got underway at the end of May, writing in his Full Contact Poker blog that it had done an excellent job in preparing for card playing's biggest occasion.