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Stockholders Approve Harrah's - Caesars Merger

By Chuckmonster on Saturday, 12th March 2005 1:52pm
  » filed under Las Vegas  comments: 0


Stockholders of Harrah's Entertainment Inc. and Caesars Entertainment Inc. voted Friday to approve the megamerger of the two firms in a move toward creating a gambling entity with nearly $9 billion in revenue and about 95,000 employees.

A Caesars stockholder from Oregon who voted yes called it "just a technicality," while another Caesars stock owner from Las Vegas who favored the deal called it inevitable amid a wave of mergers of casino companies with worldwide ambitions.

"This has a lot of international implications," Mary McDonnell, 56, of Portland, Ore., said after her vote approving the deal was tallied at a brief special Caesars stockholders' meeting at Caesars Palace on the Las Vegas Strip.

The merger of the two Las Vegas-based companies, first announced in July, still needs approval from the Federal Trade Commission and regulators in states where the companies operate. Both companies have casinos on Mississippi.



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