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December 21, 2014

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Harrah’s said to be seeking offers for Rio

Harrah’s Entertainment Inc., the casino company owned by Apollo Management LP and TPG Inc., is seeking bids for the Rio All-Suite Hotel & Casino in Las Vegas, people with knowledge of the situation told Bloomberg.

Starwood Capital Group LLC and Colony Capital LLC are among the companies that are weighing bids for the resort, said the people who declined to be identified because the talks are private. Some bids value the Rio at about $500 million, two of the people said.

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