Oct 2, 7:14 AM EDT

Report: Harrah's in Buyout Talks

NEW YORK (AP) -- Harrah's Entertainment Inc., the country's largest casino company, is in talks with private-equity firms interested in purchasing the company in what would be one of the largest leveraged buyouts ever, according to a published report.

The private-equity firms involved include the Texas Pacific Group and Colony Capital of Los Angeles, according to a report in Monday editions of The Wall Street Journal.

Other details were not complete and the firms involved could change before a final deal is reached, according to the Journal, which cited unnamed people familiar with the matter.

The purchase of Las Vegas-based Harrah's, which operates Caesars Palace and other casinos, could be announced as early as this week, though the negotiations still are at risk of falling apart, according to the Journal.

The Journal did not report a possible purchase price for Harrah's, but noted the deal likely will be one of the largest leveraged buyouts in history. Harrah's, which bought Caesars Entertainment Inc. in 2005, has a market value of about $12.34 billion and $10.2 billion in debt, according to the report.