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Updated from 7:54 a.m. EDT


( HET) rose 2% Monday on reports the casino operator would go private in a huge leveraged buyout.

Potential buyers include Texas Pacific and Colony Capital in a deal that would be valued north of $12 billion in equity value,

The Wall Street Journal

reported. A deal would rank high on the all-time buyout list because Harrah's has $10 billion in debt, the paper said.

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Also on Monday, Harrah's said it entered into a real state swap in Las Vegas with

Boyd Gaming

(BYD) - Get Boyd Gaming Corporation Report

. Harrah's is giving up real estate that it owns near the Stardust Casino, which Boyd is razing to make way for its Echelon Place development.

In return, Harrah's receives Boyd's Barbary Coast property, located next door to Harrah's Flamingo casino.

Harrah's shares recently were up $7.97, or 12%, to $74.40 in premarket trading.