Harrah's closes merger with rival Caesars By Deena Beasley LOS ANGELES (Reuters) - Harrah's Entertainment Inc. (HET.N: Quote , Profile , Research ) on Monday closed its $6.8 billion purchase of rival Caesars Entertainment (CZR.N: Quote , Profile , Research ) , creating the world's largest casino operator and upping its bet on Las Vegas. Chief Executive Gary Loveman said Harrah's has its eye on long-term opportunities in overseas gaming, but near-term growth will likely come from its hometown of Las Vegas. The combined company has nearly 100,000 employees and $9 billion in annual revenue from 40 properties, including riverboats and hotel-casinos in 12 states and three countries. Harrah's offer, which included $1.9 billion in cash and $4.9 billion in Harrah's shares, was first announced last July. Harrah's now controls 6 Las Vegas properties, compared with the 10 resorts owned by No. 2 gambling company MGM Mirage (MGM.N: Quote , Profile , Research ) , which in April acquired Mandalay Resort Group and narrowed the industry to two major players. A record 37.4 million tourists and conventioneers visited the U.S. gambling mecca last year and analysts expect the numbers to rise as aging baby boomers spend their time and money on leisure travel. "We have 40 million American adults in our database. We can offer them everything from the luxury of Caesars Palace to the more affordable Flamingo. Once they arrive, we will have six properties within walking distance of each other," Loveman said. He said Harrah's was looking at options for expansion in Las Vegas including opening a casino under its high-end Horseshoe brand or another property under its namesake Harrah's brand. Loveman said the government of Singapore is likely to issue in about a month a final request for proposals for two proposed casino projects, after which bidders will have three months to respond. He said Harrah's is also looking at opportunities in the Chinese gambling enclave of Macau, although nothing has been defined. "We have to find a legal entry point," Loveman said. Harrah's also will pursue gaming opportunity's in Britain, where the government has cleared the way for a single Las Vegas-style casino, as well as in Spain, the CEO said.     Continued ... Quelle "Harrah's closes merger with rival Caesars" : reuters.com Main page for "Harrah's closes merger with rival Caesars"