Harrah's Entertainment Inc.’s board -the world's largest gambling company- is going to meet on Wednesday to study buyout offers, and Harrah’s special committee of independent directors has set a deadline on all bills.

Private equity firms Apollo Management and Texas Pacific Group offered an $81-per-share takeover on Oct. 2, but have now raised it to $83.50 per share (totaling $15,5 billion).

A different group, led by Penn National Gaming Inc. is considering making a cash and stock offer. The capitalization of the group is much smaller than Harrah’s, with about $3.2 billion.

Harrah's is also seriously considering leveraged recapitalization.