Officials of Caesars Entertainment Corp. (CZR) have emphasized that its Harrah’s Reno Casino is not for sale. The statement came as a result of confusion that developed when a state tax panel discussing a tax reduction on the property was told the property was only worth $8 million.
As Caesars spokesman Gary Thompson explained: the $8 million referred to the real property or “the ground beneath it” and not on the entire casino enterprise.
Thompson also told the Reno Gazette-Journal, “We have no plans to sell. It’s a viable business.”
The state Board of Equalization agreed to lower the property’s taxable value from $20.5 million to $16.2 million.
Ray Poirier is the longtime executive editor at GamingToday.
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