Harrah's Entertainment, the world's largest casino entertainment provider owned by private equity firms Apollo and TPG Capital, filed on Monday with the SEC to raise up to $575 million in an initial public offering. The Las Vegas, NV-based company also plans to issue a concurrent private placement with hedge fund Paulson Investors selling up to $710 million. Net proceeds from the casino operator's IPO will be used to fund its near-term pipeline of growth projects in Las Vegas and Ohio, according to the SEC filing. Harrah's Entertainment, which was founded in 1989 and LBO'd for $28 billion in 2008, booked $8.9 billion in sales last year. Underwriters, pricing terms and timing for the deal were not specified.
