Harrah's backs out of public offering

22 Nov 2010

NEW YORK -- Harrah's backtracked on its planned $500 million initial public offering last Friday, Reuters reported.

Harrah's released a statement that cited market conditions, Reuters said.

Analysts however pointed to Harrah's "heavy leverage" and a too high price range, Reuters added.

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	Harrah's backs out of public offering 22 Nov 2010 NEW YORK -- Harrah's backtracked on its planned $500 million initial public offering last Friday, Reuters reported. Harrah's released a statement that cited market conditions, Reuters said. Analysts however pointed to Harrah's "heavy leverage" and a too high price range, Reuters added.