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Harrah’s Puts Paulson in ‘Driver’s Seat’ for Public Offering

Harrah’s Entertainment Inc., the world’s biggest casino owner, expects to list some shares publicly in coming months because of the deal owners Apollo Management LP and TPG struck with billionaire John Paulson.

Paulson won the right to be the first equity holder to register and may publicly sell his stock as part of his hedge fund’s $710 million swap of debt for equity with Las Vegas-based Harrah’s, according to the June 3 investment agreement. Once approved by regulators, Paulson’s 9.9 percent stake will be registered on the New York Stock Exchange or Nasdaq Stock Market “within a matter of months,” Harrah’s Chief Executive Officer Gary Loveman said in an interview.