Harrahs IPO Cancelled

Written by:
Aaron Goldstein
Published on:
Nov/19/2010
Harrahs IPO

Harrahs, the Las Vegas casino operator and sponsor of the World Series of Poker, has cancelled its IPO on Friday, citing declining marketing conditions.

News of the Initial Public Offering being scrapped comes one day after General Motors returned to the stock market surrounded by plenty of hoopla.  While the GM shares did not deliver a huge punch over the price of the initial public offering, there was still a 3.6 percent rise in the stock price.

Harrahs apparently is not convinced there has been a market turnaround.  They did not elaborate further on Friday’s decision.

The company priced the offering this month at $15 to $17 dollars per share and would have raised around $531 million.

More than 31 million shares were to be sold.  The company was going to list on the Nasdaq as Caesars Entertainment Corporation.

- Aaron Goldstein, Gambling911.com 

Business/Financial News

How to Profit as a Bookie

In today’s world even the least savvy of sports bettors has access to information via the Internet that offers a tremendous edge over a local bookie.  PricePerPlayer gives you the tools to overcome this.

PPH Sportsbook Offers Free Trial with Top Rated Sportsbook Solutions

It does not matter whether you are a seasoned professional running your own large sports bookmaking operation or a small private bookie just starting out, you need a Pay Per Head site that can offer the right sportsbook software solutions to handle the administrative end of things.

Syndicate

Subscribe to Syndicate
More