BIG, BIG news in our town this week. If you haven't already heard, it was announced yesterday that Harrah's Entertainment Inc., the world's largest casino company, had accepted a $17.1 billion buyout offer from two private equity groups. The board approved a $90-per-share buyout offer from Apollo Management Group and Texas Pacific Group and recommended shareholder approval even as the company reserved the right to pursue even higher bids for about a month. The buyers are also assuming $10.7 billion in debt in the deal.
The new owners planned to continue with Harrah's management team and with large-scale redevelopment plans for properties in Las Vegas and Atlantic City, chief executive and Gary Loveman said after the deal was announced. Harrah's said the deal was expected to be completed in about a year but said its special committee would continue to solicit third parties for a possible higher bid for the next 25 days.
Harrah's is the world's largest casino company by revenue, operating 39 casinos nationwide, including Caesars Palace, Bally's, Paris, Flamingo, Imperial Palace, Barbary Coast and the Rio in Las Vegas and Caesars and Harrah's in Atlantic City. It also has interests in Casino Windsor in Canada, to be renamed Caesars Windsor in early 2008, and Conrad Punta del Este in Uruguay. By year's end, Harrah's is to acquire all the shares in U.K.-based London Clubs International PLC, which operates seven casinos in the U.K., two in Egypt, one in South Africa and is a consultant for a casino in Lebanon.
What this will mean to gamblers remains to be seen. I wouldn't think any changes in strategy are planned as Harrah's is one of the most successful gaming companies in the world. It will, however, be interesting to see what the new owners decide to do about the existing properties on the Strip in particular. Some, or most of them, could come under the wrecking ball in the not-too-distant future to make way for another mega resort.
BELLAGIO CHRISTMAS
Manhattan may have the Fifth Avenue shops for incredible holiday displays each year, but Las Vegas has established its own winter wonderland each year thanks to the Bellagio's Conservatory & Botanical Gardens. This year it welcomes winter with a shimmering display featuring a towering holiday tree, flower-clad polar bears and flying reindeer.
A soaring, 45-foot-tall Shasta fir is the commanding centerpiece of this dazzling exhibit.
Surrounded by candy-cane stripes of pink and red poinsettias, the tree is encased in a high-tech lighting display that twinkles and glitters with the colors of the season. Just steps away, a family of polar bears captivates visitors with coats of white carnations
while six majestic reindeer, made entirely of seeds and whole pecans, fly over a snowy forest glen. Nearby, a cranberry bog evokes memories of a holiday meal favorite that dates back to America's first settlers. This is something you don't want to miss and make sure you bring your camera. It's all free and it's located just off the main lobby for those of you who haven't been there before. If this doesn't get you into the holiday spirit, nothing will. The display runs through Jan. 6.
ELVIS CELEBRATION
Here's one for all you Elvis fans. The Cannery out in North Las Vegas will celebrate the King's life with a 72nd birthday celebration on Jan. 5 and 6. It will be hosted by Elvis expert Steve Christopher with special performances by Johnny Fortuno and The Stamps Quartet, as well as a meet and greet with friends and co-stars of the real Elvis. Tickets are $10 at the door and the celebration begins at 8 p.m.
If you've never seen Johnny Fortuno as Elvis, you're in for a treat. He's got this raw energy and powerful stage presence that makes him a favorite with audiences. And don't worry, he'll be singing all your favorite Elvis songs such as "Blue Suede Shoes," "Heartbreak Hotel," "Suspicious Minds" and "Love Me Tender." The Stamps Quartet, who join Fortuno, performed regularly with Elvis on many recordings and concerts as backup. Elvis, who called The Stamps his favorite singers, once said that Ed Enoch, lead singer of the Stamps Quartet, had the most powerful and best lead voice in Gospel music.
Special guests will include Ed Bonja (Elvis' official photographer and tour manager), Cynthia Pepper (co-star in "Kissin' Cousins") and Darlene Tompkins (co-star in "Blue Hawaii"). Other activities taking place throughout the weekend include memorabilia dealers and fan club displays. The Cannery Row Buffet will host a special "Food that fed the King" section featuring Elvis' favorite dishes. Should be a lot of fun.
'THE NUTCRACKER'
And now for my Culture Corner. The Nevada Ballet Theater's professional company and the Academy of Nevada Ballet Theatre Youth Compay are presenting that traditional favorite, "The Nutcracker." The production, under the direction of artistic director Bruce Steivel, runs through Dec. 27 at the Judy Bayley Theatre on the UNLV campus. Tickets start at $39. You can order them by calling the Performing Arts Center box office at 895-ARTS (702-895-2787) or online at pac.unlv.edu.
The entire production includes more than 100 roles featuring all 37 dancers from Nevada Ballet Theatre, including this year's trainees. (Trainees are unpaid and study under the professional company for one year in hopes of being accepted as a paid professional for the following season). Don't miss this and take the whole family. It's a winner.
I will be away for the next two weeks, but would like to wish all of you a Happy Holiday and may the New Year bring you and your loved ones good health, much happiness and prosperity.
Good luck and I'll see you on the Strip. And don't forget to check out www.valleyblogs.com.
If you have a question or a Las Vegas experience you would like to share with my readers, please e-mail me at lennylv@cox.net. Please include your full name and the city or town where you live.
