Harrah's Entertainment cancels IPO

The company blamed "market conditions" and said it had canceled its IPO, The New York Times reported.

Harrah's had set the initial price between $15 and $17 per share, but that would not have raised as much as the company originally sought.

At the initial asking price, the company would have raised $531 million by selling 31 million shares, the Times said.

Had it followed through, Harrah's would have been listed as Caesars Entertainment Corp. on the Nasdaq index.

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