Casino operator Harrah's reported that its $17.1 billion acquisition by affiliates of Texas Pacific Group and Apollo Global Management LP had closed as scheduled. The gaming firm, which operates 50 casinos worldwide, said that stockholders will receive $90 in cash for each share they own.
The new owners told Nevada gambling regulators when seeking approval that they supported the casino operator's expansion plans, which included $4 billion in growth-related spending through 2012. Harrah's took in nearly $10 billion in 2006.