Harrah's has been in discussions with Planet Hollywood and its lender group regarding a restructuring of the ownership of the resort. We continue to work on a plan that would allow Harrah's to own and manage the entire casino resort property," said Gary Loveman, chairman, CEO and president of Harrah's Entertainment.
"In the meantime, we are pleased to take on the management of the Planet Hollywood Hotel for the current owners," Loveman added.
Harrah's Entertainment, Inc. is the world's largest provider of branded casino entertainment. Since its beginning in Reno, Nevada, more than 70 years ago, it has grown through development of new properties, expansions and acquisitions, and now operates casinos on four continents.
The company's properties operate primarily under the Harrah's, Caesars and Horseshoe brand names; Harrah's also owns the World Series of Poker and a majority interest in the London Clubs International family of casinos.