This move had been anticipated for some time after Harrah’s began to buy up Planet Hollywood’s staggering $860 million worth of debt earlier this year. The Planet defaulted on the debt with its creditors and has been looking for a savior like Harrah’s ever since.

The move is both a smart and confusing one for Harrah’s, a company that is saddled with its own money problems. On the one hand it would give the company the Planet Hollywood brand name, which still holds a lot of positive equity with the public, and it would give them dominance of the east side of The Strip, with an uninterrupted string of properties that includes Harrah’s, Imperial Palace, Flamingo, Bill’s, Bally’s, and Paris Las Vegas. On the other hand, I described $860 million as staggering in the previous paragraph so I’m not sure what to call over $19 billion, which is the amount of debt that Harrah’s is working under. Taking on even more in this economy is probably the definition of the word “gamble.”

The filing will work its way through the various regulatory agencies who will be looking at everything including Harrah’s debt load before giving a thumbs up, but unless there are some skeletons hidden in the company’s closet that nobody knows about, expect it to get approved eventually. I’d anticipate a mid-to-late 2010 completion of the process.

The hotel will most likely keep the Planet Hollywood name but would get folded into Harrah’s very popular Total Rewards players’ club program.

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The long-empty 1,500 seat showroom at Paris Las Vegas will play host to about 78 shows a year and will not be the same thing he’s been doing for the last five at the Hilton. Although the new show will still feature Manilow’s classic hits like “Mandy” and “I Write the Songs,” it will also feature selections from his newest album of “The Greatest Love Songs of All Time” and an entirely new staging.

“The audience in Vegas is always energized and electric, so I know that the Paris Las Vegas is going to be a special run,” said Manilow. “I’m planning something new for this performance; definitely not to be missed.”

With worldwide record sales exceeding 80 million, Barry Manilow is ranked as the top Adult Contemporary chart artist of all time, according to R&R (Radio & Records); with no less than 25 consecutive top 40 hits to his credit between 1975 and 1983, on the Billboard Hot 100. Manilow has worked on over 40 albums over the course of his career as a singer, songwriter, arranger and producer.

Las Vegas middle school and high school music programs will benefit from Manilow’s new contract with Paris by sharing in the proceeds of the special, weekly Platinum Experience Tickets. Platinum Experience Tickets which include a front row seat, pre-show champagne reception, meet and greet and photo with Barry Manilow, and an autographed show program are available. Proceeds from Platinum Experience Tickets go directly to the Manilow Music Project. The Manilow Music Project is part of Manilow’s non-profit, The Manilow Fund for Health and Hope and will put instruments into the hands of middle school and high school students in the Las Vegas Unified School District.

Tickets for the first stand of dates are on sale now and will run $95-$250. For more information, visit the Barry Manilow show page on Vegas4Visitors.com.

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