Harrah's Reno in Trouble

3/19/09 - HARRAH'S RENO IS IN TROUBLE - Harrah's troubles are seemingly deepening as the toll on gaming and tourism in Nevada rises like a dark tide on the horizon. Harrah's advised federal regulars it's not quite sure how it will be able to continue operations. There are no buyers for the property right now. No mention was made of the property closing; right now it seems like a race to see if the downtown Reno property can be sold off before Harrah's completely shuts down. Harrah's has a $23.1 billion debt it cannot pay off.

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Posted by: Melissa - 3/19/2009 10:52:30 AM
Yikes. That bites.

Posted by: Lollygaggle - 3/19/2009 11:30:00 AM
I don't think Harrah's will make it another quarter. I just hope someone buys.

Posted by: Wiley_n_Reno - 3/19/2009 4:29:20 PM
these companies carry so much freaking debt they can't handle the bad times. Who graduated from top US business schools the last 20 years? Idiots? They gambled -- they lost!

Posted by: lennyp - 1/28/2011 5:53:57 PM
What b-school MBA's are running Harrahs? It's being run by psychology teachers and lawyers, so what do you expect?

 

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