The deal is the largest in gaming history and will make Harrah’s the world’s largest casino group.

Harrah’s estate will now consist of 56 casinos with 3.7 million sq ft of gaming space and 41,650 hotel rooms.

Gary Loveman, president, said: “This acquisition will solidify Harrah’s position as the pre-eminent distributor of casino entertainment.

“Our network will now be enhanced as Caesars provides us access to new markets and new customers, which will bolster what is already the world’s largest player-royalty programme.”

Las Vegas-based Caesars’ annual net revenue for 2003 was around $4.5bn and the company employs over 53,000 employees.

Harrah’s, founded 66 years ago, also completed the buy-out of Horseshoe Gaming this month.

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