The Sale of Harrah

It was made clear this week by the World Series of Poker Communications Director, Gary Thompson, that there will not be any changes to the tournament series despite the pending sale of Harrah's Entertainment Inc. Thompson stated on record that the sale would not affect the World Series of Poker brand. He also stated that the WSOP would be a featured showcase of the company for years to come.

Thompson also made it clear that key figures in the WSOP team would remain the same. Jeffrey Pollack will remain commissioner and the chairman and CEO of Harrah's, Gary Loveman, will also remain in his position. Thompson also stated: "The WSOP will remain a key brand in the Harrah's portfolio, and one earmarked for expansion on a number of fronts."

The sale of Harrah's is still pending but with the recent approval of the Nevada Gaming Commission, it will most likely happen in 2008. The National Indian Gambling Commission also recently approved the sale to the private firms. The sale will be for $17.5 million. The two groups buying the brand are Texas Pacific Group Capital and Apollo Management, L.P. Harrah's is the largest casino operator in the world. They have over fifty casinos throughout the world. In this past year they made over $10 million in revenue.