At present, Harrah’s Entertainment only owns a minority share of Planet Hollywood’s debt and hasn’t been able to roll that over into outright ownership – although that is Harrah’s objective. Even should Harrah’s gain a majority stake in the illiquid casino-hotel, Nevada regulators would still have to approve the transaction. That could take weeks or months, depending on the degree of urgency.
In agreeing to manage Planet Hollywood on behalf of its current, outgoing owners, Harrah’s is not instituting Total Rewards there. You will not be able to use or accrue Total Rewards points at Planet Hollywood for the foreseeable future. However, that does not mean that Harrah’s can’t dangle Planet Hollywood incentives in front of favored players. Stiffs & Georges reader "RAS" writes: "A lot of higher level players just got offers to stay at PH for the Miss America Pageant."
