There has been no word on whether or not Harrah’s stockholders will receive player points for junk bond purchases.  Assuming rumors of the banks trying to sweeten the deal are not true, Harrah’s stockholders will be cashing at the cage for $90 per share.  Apollo Global Management and TPG have scheduled the leveraged buyout closing date for January 28, 2008.  The 27.8 billion price tag will include Harrah’s 10 billion debt.  All Casinos’ are supposed to stay in debt on paper, right? 

Hopefully, we will have some geographical answers on the World Series of Poker’s future.  We already know the Rio will host in 2008 but the consistent rumors of a Caesars Palace relocation remains just that…a rumor.  Suits have favored the Rio location, as the freestanding structure is user-friendly and surrounded by an enormous, steaming-hot, easily accessible Chippendale Dancer parking lot.  Not to mention, we do not know if Apollo and TPG will even keep the WSOP or sell it to another entity (Venetian?). 

Do not hold your breath, with a downtrend in yield, the DOW and the bottoming of the high-risk loans it may be time for Vegas to offer up some odds on a possible postponement.