Harrah's Buys Harveys
By claire
Harrah's Entertainment Inc.'s $675 million buyout of Harveys Casino Resorts cleared a key hurdle Friday, when the federal government said it wouldn't try to block the deal on antitrust grounds.

Harrah's plans to acquire the Lake Tahoe casino operator were delayed last month, when the Federal Trade Commission extended a "waiting period" required by federal law by 30 days and asked for more information. With the FTC's review of the deal at an end, Harrah's said it expects the deal to close sometime in the next three months.

Acquiring Harveys Resort & Casino in Lake Tahoe will give Harrah's three of the area's six major casinos, more than half of the market's 2,400 slot machines, and more than 60 percent of its 5,700 slot machines.

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