Inside Asian Gaming

INSIDE ASIAN GAMING | December 2009 46 Briefs International Briefs Harrah’s launches online casino Harrah’s Interactive Entertainment appears to have soft-launched its eagerly anticipated online casino, Caesars Casino Online, bearing the unique black and gold Caesars branding. Caesars Casino Online is powered by software from Dragonfish, a division of 888 Holdings Plc, and offers a variety of games, including roulette, craps, Caribbean Poker, three-card poker, video poker, video slots and blackjack. Caesars Casino Online is offering a 100% welcome bonus for up to £500. As of now, it is not accepting players from the US or Germany. Players from the US are redirected to a page that lists Caesars’ land- based gaming properties. Caesars Casino Online is also offering comp points based on how much players bet. It is not clear if the comp points systemwill be tied into Harrah’s Total Rewards. Harrah’s closer to Planet Hollywood deal Harrah’s Entertainment has taken another step forward in its plan to buy Planet Hollywood Resort, a plan the resort’s current owner called a “perfect marriage.” The state Gaming Control Board confirmed Harrah’s has filed applications with Nevada gaming regulators seeking approval to acquire the property. Board Chairman Dennis Neilander said he didn’t know how long it would take to investigate the request or when the acquisition would come before regulators for approval. The board could be delayed if the application is missing documents and cannot be assigned to investigators, Neilander said. Harrah’s Chairman and CEO Gary Loveman told employees in an e-mail that the company wants to “own and manage the property.” Planet Hollywood founder Robert Earl said in a memo to employees that he will “continue in his role” and will work closely with the new Harrah’s team. “I feel this is a perfect marriage for our brand,” Earl said. “With Harrah’s in the driving seat we’ll be able to go from strength to strength. They bring many different assets to the Planet that we do not possess.” Earl is chief executive officer of the restaurant company Planet Hollywood and guides themarketing and positioning of the property in the entertainment industry. Harrah’s has been negotiating to acquire more of Planet Hollywood Resort’s US$860 million debt, which is in default. In September, Harrah’s controlled nearly US$140 million of the debt. Lenders took over the property’s finances the same month after the owners defaulted on the loan, according to a November filing with the Securities and Exchange Commission. The Gaming Control Board’s distressed property team has been monitoring the property since the default, Neilander said. How a final purchase agreement is structured could also affect how long licensing will take, he said. Neilander said Harrah’s financial position will also need to be investigated before a deal is approved. Harrah’s, which owns and manages 52 casinos around the world, reported US$19.3 billion in long-term debt on Sept. 30. Harrah’s postponed completion of 660 rooms at Caesars Palace’s Octavius Tower, and construction of the Margaritaville Casino in Biloxi, Mississippi, is still on hold. Harrah’s interest in Planet Hollywood Resort is twofold. It wants the brand name and it would give Harrah’s control of all 126 acres on the east side of the Strip between Flamingo Road and Harmon Avenue. Planet Hollywood Resort is on the southernmost end of a line of Harrah’s-owned casinos on the east side of Las Vegas Boulevard. The operator owns Harrah’s, Imperial Palace, Flamingo, Bill’s, Bally’s and Paris Las Vegas. The location would allow the company to integrate some of its management and casino operations with its other Strip properties. It would also add 2,496 hotel rooms to Harrah’s inventory of 20,370 rooms on or near the Strip. Trump’s casino company supports buyout Trump Taj Mahal