LAS VEGAS (AP) — Harrah’s Entertainment is taking over management of hotel operations at the Planet Hollywood casino-resort in Las Vegas as it negotiates with lenders to buy the property.
The privately held casino operator said Friday that it would start managing the hotel at midnight on Saturday.
Planet Hollywood has 2,500 rooms and manages another 1,200 units, including vacation homes and regular hotel rooms, in a tower that opened this month.
Regulatory filings show the resort defaulted on an $860 million loan in September. There is no deal yet for Harrah’s to take ownership of the property, but the gambling giant applied with Nevada gambling regulators for a license to run it.
Harrah’s officials have said they like Planet Hollywood for its location and brand.