Friday, Oct. 4, 2002 | 11:07 a.m.
Harrah's Entertainment Inc. of Las Vegas is negotiating to sell Harveys Wagon Wheel Hotel & Casino in Central City, Colo., to Centaur Colorado LLC, a subsidiary of Centaur Gaming Inc. of Indianapolis.
If an agreement is reached, the transaction is expected to close by the third quarter of 2003. The projected sale price wasn't disclosed.
Harrah's acquired Wagon Wheel, 40 miles west of Denver, in July 2001 as part of its purchase of Harveys Casino Resorts. The casino is a non-strategic asset for Harrah's, Chairman and Chief Executive Officer Phil Satre said.
Centaur Colorado would have the right to use the Harveys brand at Wagon Wheel for 120 days after the transaction closes. Harrah's said it will not make any significant changes in the property's operations while the transaction is pending.
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