Harrah's Folds on IPO Plans

Harrah's Entertainment has canceled its IPO plans, citing market conditions as the reason for its decision. The casino company had intended to offer 31.25 million shares of common stock at a price range of between $15 and $17 per share and to list on the NASDAQ under the symbol CZR. Harrah's has been backed by a group of investors, led by Apollo Global Management and TPG Capital, since a $30.7 billion LBO in 2008.