CZR emphasizes Harrah's Reno Casino not for sale

Aug 26, 2013 6:02 PM

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.

Contact Ray at [email protected]om.

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