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Harrah’s reiterates commitment to deal

Thursday, Feb. 3, 2000 | 11:35 a.m.

THE ASSOCIATED PRESS

ATLANTIC CITY -- Players International Inc., in the midst of merger talks with Las Vegas-based Harrah's Entertainment Inc., said both parties agreed not to exercise their right to terminate their merger.

The merger agreement between the companies allowed either side to kill the deal if it had not closed by Jan. 31. The merger has been delayed in the regulatory process in Louisiana and Illinois.

Players was fined $10 million by Louisiana and ordered to cease operations in the state in December. That punishment came after allegations the company paid extortion money to former Louisiana Gov. Edwin Edwards and his son to gain favorable licensing treatment. Players was permitted to keep the license until completion of the Harrah's deal, scheduled to be heard Feb. 15.

The Illinois approval has been delayed by concerns that a lawsuit could prevent casino operators from owning more than one casino in the state. The Players acquisition would give Harrah's two casinos in Illinois.

Players owns and operates two riverboat casinos, located in Illinois and Missouri.

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