It holds a promissory note of us$ 67 million
Harrah's said it is in discussions with Foxwoods on Philadelphia casino
2010-07-19
Reading time 23 seg
The Inquirer reported that the gaming giant was in negotiations to become a partner in the struggling Foxwoods project. Harrah's holds a promissory note of us$ 67 million for the 16-acre parcel from a group of local investors, including family foundations for lawyer Lewis Katz and developer Ron Rubin. Harrah's said it acquired the note when it purchased Caesars Entertainment in 2005.
In the statement, Harrah's said, "Over the years we have had numerous discussions around different deal structures involving the note and other roles." Recently, those talks have resumed, the company said, but did not elaborate.
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