Harrah’s Buys Imperial Palace

Harrah’s Entertainment continues to strengthen its foothold on the Las Vegas Strip; it recently reached an agreement to buy the Imperial Palace hotel-casino for $370 million.

Harrah’s execs said August 22nd the company will run the 2,640-room Asian-themed facility with no immediate “substantial operational changes” once it takes control.

The purchase could be completed by the end of the year if approved by state and federal regulators.

The Imperial Palace employs about 2,500 people and features a 52,000-square-foot casino.

Harrah’s completed its merger with Caesars Entertainment in June, creating the world’s largest gambling company with nearly 100,000 employees and $9 billion in revenue.