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Harrah's Spokeswoman Denies Move to Get Foxwoods

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Harrah’s has now written off more than $50 million in debt related to its interest in the Foxwoods casino project, but a spokeswoman denies that it signals an imminent move to take over the project.

KYW’s Tony Romeo reports Harrah’s has written off more than $50 million owed by local investors in the Foxwoods project, but as to speculation that Harrah’s is preparing to step in and take over the stalled project, a Harrah’s spokeswoman says the debt write down is simply an accounting procedure and, in her words, “isn’t remotely related to anything else.”

While acknowledging that there are have been long-running discussions about salvaging Harrah’s investment in the project, the spokeswoman insists there is nothing new in that regard.

The staff of the Gaming Control Board has petitioned to revoke Foxwoods’ casino license and on Monday the board chairman said the revocation process is proceeding on schedule.