Harrah’s $5.5bn loan extended

Harrah's Entertainment has won approval from lenders to extend the maturity date on a $5.5bn (£3.65bn) loan, giving it until 2015 to pay off the debt. Harrah's, the world's largest operator of casinos, will also have the ability to buy back the commercial mortgage-backed securities loan at a steep discount, helping it reduce debt, the casino company said in a statement. Harrah’s has been hit by the weak economy.