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Company sets tentative date to close on acquisition

Friday, June 3, 2005 | 10:34 a.m.

Harrah's Entertainment Inc. hopes to close on its $9.4 billion acquisition Caesars Entertainment Inc. on June 13, the company announced today.

The companies are still awaiting approval on the deal from the Federal Trade Commission.

Meanwhile, the state Gaming Control Board and the Nevada Gaming Commission have scheduled special meetings in Las Vegas June 10 to consider the deal. The Control Board would meet at 9:30 a.m., and the commission at 1:30 p.m. Control Board Chairman Dennis Neilander said today those meetings would be postponed if the FTC fails to act.

Harrah's and Caesars have set a 5 p.m. deadline on June 10 for receipt of election forms and letters of transmittal from Caesars stockholders who want to receive shares of Harrah's common stock in the merger.

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