They were part of a group that told lawmakers an on shore gaming rule would, according to regional executive Anthony Sanfilippo, 'give us the ability to build a much better facility.' Once the on shore rule became law, Harrah's bought the neighboring Casino Magic Biloxi property. After Katrina, Harrah's executives said they'd put a billion dollars into the Biloxi resort.

However, the insiders wonder if Harrah's long term plans for Biloxi could be in jeopardy. So Grand Biloxi will continue to operate just like it has since it reopened in August. The deal will likely take several months to complete. Casino industry insiders say the immediate impact of Harrah's pending sale won't be very dramatic. Harrah's runs Grand Biloxi. So the buyout could impact the south Mississippi resort. Apollo Management and Texas Pacific will reportedly pay 90 dollars per share to get into the gaming business. Sources familiar with negotiations say Harrah's Entertainment has accepted a deal to sell its 40 casinos to two private equity groups. The largest gaming company in the world is reportedly being sold for more than $16 billion.

Harrah's biloxi casino