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Most Recent Online Casino News

Binion’s Horseshoe Casino Bought Out

Harrah’s Entertainment has signed an agreement to buy the financially strapped Binion’s Horseshoe hotel-casino, two days after the legendary downtown property shut down and federal agents seized money to pay for unpaid employee benefits, a Harrah’s spokesman said Monday.

Harrah’s spokesman Gary Thompson declined to say how much the deal was worth, but said his company agreed to assume all the landmark property’s liabilities. The deal includes the rights to the lucrative World Series of Poker tournament and the casino’s legendary name in Nevada. Thompson couldn’t say when the deal would be completed.

The purchase must be approved by the Nevada Gaming Commission.

Thompson said Harrah’s had been interested in buying Binion’s before it was shuttered Saturday.

"There were prior negotiations but the pace accelerated over the weekend," Thompson said.

Thompson said Harrah’s wants to reopen the hotel-casino and put its approximately 900 employees back to work.

Keith Copher, chief enforcement officer of the state Gaming Control Board, said Monday night that gambling regulators will act fast to get the casino reopened.

Read the entire article at: SFGate.Com 

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