LAS VEGAS —  A special board committee of casino giant Harrah's Entertainment Inc. ended a meeting Thursday without announcing a decision on whether it will back a multibillion dollar buyout offer, according to a person close to the matter.

The special committee, comprised of all 11 members of the board except chairman and chief executive Gary Loveman, had been meeting in New York since Wednesday to weigh any offers it received by the end of Tuesday.

Among the offers was one from private equity firms Apollo Management Group and Texas Pacific Group to take the company private for more than $83.50 per share, or more than $15.5 billion, another person close to the matter said.

Another option being considered was a plan to recapitalize the company by borrowing money to give shareholders a large dividend or to repurchase shares to boost shareholder value, the person said.

Both people asked not to be named because of the sensitivity of the negotiations.

Penn National Gaming Inc., a casino and horse racing track operator based in Wyomissing, Pa., reportedly also is interested in bidding for Harrah's.

A third person close to the matter who also spoke on condition of anonymity said no decision was expected to be announced Thursday evening.

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Harrah's, the world's largest casino company by revenue, has not confirmed any information about the bids since making an announcement Oct. 2 that private equity firms Apollo and Texas Pacific had offered $81 per share for the company. Later that month, the group raised its bid to $83.50 a share, one source said.

The latest bid by the private equity group topped the previous one, the source said, without giving an exact figure.

The proposed deal, even at the original bid price, would make it one of the largest leveraged buyouts in history.

Officials from Apollo, Texas Pacific and Penn refused to comment.

Harrah's shares rose 60 cents to $79.13 in trading Thursday on the New York Stock Exchange.

Harrah's is the world's largest casino company by revenue, operating 39 casinos nationwide, including Caesars Palace, Bally's and Paris on the Las Vegas Strip, and Caesars and Harrah's in Atlantic City, New Jersey. It also has interests in Casino Windsor in Canada and Conrad Punta del Este in Uruguay.

By year's end, Harrah's was to acquire all the shares in U.K.-based London Clubs International PLC, which operates seven casinos in the U.K., two in Egypt, one in South Africa and is a consultant for a casino in Lebanon.

Harrah's also is pursuing projects in Singapore, the Bahamas, Spain and Slovenia.

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AP Business Writer Adam Goldman in New York contributed to this report.

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