From The Street – Caesar’s Entertainment (CZR_) has failed on its bet in China. The Harrah’s casino operator agreed to sell its Macau property to Chinese real estate developer Pearl Dynasty Investment for $438 million after failing to get a gambling license in the Chinese region. The transaction, revealed in a Friday, Aug. 9 regulatory filing, comes as the Las Vegas casino operator struggles under the weight of $23.7 billion in debt in a deeply competitive U.S. casino industry. Caesars paid $578 million for the golf course property in 2007, with plans to eventually develop it into a hotel and…