What is your source for this?
I didn't see anything in the South Tahoe papers online about this. Are your referring to the leveraged buyout of Harrah's by TPG and Apollo Management? As I wrote below, that is old news. The deal was essentially done before Christmas last year and approved by stockholders in April. The deal requires acceptance from the Gaming Commissions where Harrah's has casinos. A hearing in Nevada is supposed to go forward sometime in the next couple of months. Maybe this is what your source was referring to.
TPG is one of the top private equity firms in the US and Apollo, run by a former crony of Michael Milken at Drexel Burnham Lambert, is a specialist in buying distressed and under-performing companies. Harrah's is saddled with increased debt with the buyout but the management is unchanged. Loveman made millions on the deal and has been confirmed as CEO by the new ownership group. Debt repayment is a higher priority so some casinos my be sold off. Maybe the Tahoe casinos come under that category but it seems unlikely they would sell off the Harrah's Tahoe. Expect the same crappy games and the same player-unfriendly environment.