Will Penn National Gaming Inc. buy Harrah’s?

Harrahs_logoPublicly traded Penn National Gaming Inc. (NASDAQ: PENN, which at "press" time is going for $36.94), owner of a dozen casinos and countless racetracks, is reportedly interested–VERY…interested–in buying Harrah’s Entertainment, owner of the WSOP brand.

Reps from Harrah’s and Penn are meeting this week in Las Vegas to hash it out.

Harrah’s also received a buy-out bid recently from the Apollo Management Group and the Texas Pacific Group for over $15B (a little something we here at Wicked Chops Poker like to call "pocket change"), but rejected the offer because they thought the group wouldn’t age well after they met the group’s mother. We told Harrah’s, "Hey, if in 20 years she looks nothing like the woman you married, you can always trade her in for a new one," but apparently they are looking for a serious, long-term commitment.

 

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