Something might happen very very soon. Buyout offer upped to $90 a share: ("* * * the deal, in which private equity firms Texas Pacific Group of Fort Worth, Texas and New York-based Apollo Management would buy all 186 million outstanding shares of Harrah's Entertainment for $90 a share, could be announced as (early as this Monday morning)." Harrah's Board met all day Sunday.

The all cash deal wouldn't necessarily mean that Harrah's is out of the casino business since with the $18 billion after debt there would be some play money left for Harrah's to invest in private venture.

L.V. Review/Journal article (and quote above).

http://www.reviewjournal.com/lvrj_home/2006/Dec-18-Mon-2006/business/11484107.html