LAS VEGAS -- Harrahs
Entertainment agreed to acquire the Imperial Palace Hotel &
Casino on the Las Vegas Strip for $370 million.
The deal would give
Harrahs a prime parcel of real estate between Harrahs Las Vegas and
the Flamingo, which it also owns.
The 2,640-room hotel
and its 52,000-square-foot casino will continue to operate as the
Imperial Palace until the deal closes later this year.
After that, watch out
-- some analysts are saying that side of the street is ready for
some major redevelopment.
To contact the
reporter who wrote this article, send e-mail to Amy Baratta at [email protected].