Harrah’s Entertainment Might Have to Sell WSOP Brand to Avoid Bankruptcy
04/02/2009

WSOP brand for Sale, Online Casinos Extremely Interested in Sealing the Deal

Online PR News – 02-April-2009 – – The WSOP, World Series of Poker, might be for sale after this recent recession has left Harrah’s Entertainment with debt and liquidity problems. Online casino operators are keeping fingers crossed that one of the assets up for sale is the brand rights to the World Series of Poker.

Harrah’s Entertainment has had an upper hand in the world poker tournament circuit since it acquired Binion’s. But has never jumped on the online gaming bandwagon, which would carry its brand name and speculations of such a site rings an instant buzz among online poker fans.

Putting the WSOP up for grabs would save the company’s financial problems without straining them to sell casinos and other assets. There has already been rumors that the Rio All-Suite Hotel and Casino in Las Vegas will be sold.

Any online casino or online poker site would love to get their hands round this brand as it’s the most well known, poker brand out there. Harrah’s original plan was to wait until the UIEGA law is lifted and only then to open a site bearing its name and logo. Harrah’s must give up on this dream if they don’t want to file for bankruptcy any time soon.

Harrah’s Entertainment has reported a loss of $4 billion over this past quarter and debt payments on loans to take the company private. If Harrah’s is interested I paying these debts off, they must consider selling WSOP.

Patricia Jones
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