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Research about: Esports | Jurisdictions | Companies | Casino Math | Responsible Gambling | Infographics |
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| Caesars Entertainment Corporation Company Profile |
As of December 31, 2009, Caesars Entertainment Coroporation owned, operated or managed 52 casinos in seven countries, but primarily in the United States and England. The casino entertainment facilities operate primarily under the Harrah’s, Caesars and Horseshoe brand names in the United States, and include land-based casinos and casino hotels, dockside casinos, a combination greyhound racetrack and casino, a combination thoroughbred racetrack and casino, a combination harness racetrack and casino, casino clubs and managed casinos. Harrah's is focused on building customer loyalty through a unique combination of customer service, excellent products, unsurpassed distribution, operational excellence and technology leadership and on exploiting the value of their major hotel/casino brands and their loyalty program, Total Rewards. Harrah's believes that the customer-relationship marketing and business-intelligence capabilities fueled by Total Rewards are constantly bringing them closer to their customers so they better understand their preferences, and from that understanding, Harrah's is able to improve the entertainment experiences that they offer accordingly. On January 28, 2008, Harrah’s Entertainment was acquired by affiliates of Apollo Global Management, LLC (“Apollo”) and TPG Capital, LP (“TPG”) in an all-cash transaction, hereinafter referred to as the “Acquisition,” valued at approximately $30.7 billion, including the assumption of $12.4 billion of debt and the incurrence of approximately $1.0 billion of acquisition costs. Holders of Harrah’s Entertainment stock received $90.00 in cash for each outstanding share of common stock. As a result of the Acquisition, the issued and outstanding shares of non-voting common stock and non-voting preferred stock of Harrah’s Entertainment are owned by entities affiliated with Apollo and TPG and certain co-investors and members of management, and the issued and outstanding shares of voting common stock of Harrah’s Entertainment are owned by Hamlet Holdings LLC, which is owned by certain individuals affiliated with Apollo and TPG. In 2012, Caesars Entertainment went public again with an IPO. |
| Caesars Entertainment Corporation History |
1937: Bill Harrah bought the Silver Tango bingo parlor in downtown Reno, Nevada, and renamed it Harrah's Bingo Club. It failed within a few weeks 1938: Harrah opened Harrah's Plaza Tango, another Reno bingo parlor 1940?: Harrah left the Plaza Tango location for Harrah's Heart Tango, on the busier Virginia Street 1946: Harrah opened Harrah's Club, a facility with slots and table games, on the site of the present Harrah's Reno casino 1955: Harrah bought the Gateway Club at Lake Tahoe, the first of a string of acquisitions and expansions that would become Harrah's Lake Tahoe 1957: Harrah's Reno casino doubled in size 1959: Harrah expanded his Lake Tahoe casino and added the South Shore Room, a theater/restaurant--Red Skelton is the opening act 1963: A brand new Harrah's casino and restaurant opened on an adjoining piece of land in Reno 1969: a 325-room, 24-story hotel opened at Harrah's Reno casino 1971: Harrah's became a publicly-traded company 1973: Hotel and casino expansion at Harrah's Lake Tahoe, including a 250-room tower 1978: On June 30, Bill Harrah died 1979: New Harrah's logo, incorporating the traditional "swing" but with bolder type and a star in place of the apostrophe, debuted 1980: Harrah's was acquired by Holiday Inns, Inc, becoming a wholly-owned subsidiary of that company responsible for its gaming operations. Holiday already owned a 40% stake in the Las Vegas Strip's Holiday casino and has a project under construction in Atlantic City 1980: Reno expansion 1980: Harrah's Marina (the former Holiday Inn project) opened in Atlantic City 1983: Holiday Inns acquried the remaining 60% of the Holiday Casino in Las Vegas 1983: Significant remoldeing done at Harrah's Marina 1984: 100-slip marina opened at Harrah's Marina 1984: Harrah's at Trump Plaza, a partnership with real estate mogul Donald Trump, opened on Atlantic City's Boardwalk 1985: Holiday Inns, Inc. became the Holiday Corporation 1986: Harrah's sold its share in Harrah's at Trump Plaza to Donald Trump 1986: Expansion projects began at the Holiday Casino and Harrah's Marina 1987: Bill's Casino, a casual adjunct to Harrah's Lake Tahoe, opened 1988: Harrah's Del Rio opened in Laughlin, Nevada 1990: The Holiday Corporation's Holiday Inn hotel business is transferred to Bass PLC and its remaining assets (its casinos and hospitality brands Embassy Suites, Hampton Inn, and Homewood Suites) became the Promus Companies 1990: Expansion project began at Harrah's Reno 1990: Hotel and casino expansion (and new facade) at the Holiday Casino 1990: Harrah's Marina was renamed Harrah's Atlantic City; Harrah's Del Rio is renamed Harrah's Laughlin 1992: The Holiday Casino became Harrah's Las Vegas 1993: Harrah's Joliet, the company's first riverboat casino, opened 1993: Harrah's Vicksburg opened 1993: Harrah's Tunica opened 1994: Harrah's Shreveport opened 1994: Harrah's North Kansas City opened 1994: Harrah's Ak-Chin opened near Phoenix, the first Indian casino managed by Harrah's 1995: Promus spins off its hotel brands and renamed itself Harrah's Entertainment, Inc. 1995: Harrah's New Orleans temporary casino, in which Harrah's is one of three partners, opened 1995: 408-room Hampton Inn opened at Harrah's Reno 1996: Harrah's Sky City opened in Auckland, New Zealand 1997: Harrah's Las Vegas is expanded, renovated and given a "carnival" theme 1997: Harrah's launched "Total Gold," which ultimately becomes its Total Rewards player loyalty program; the WINet network ties together customer databases at all Harrah's properties; Harrah's also received a patent for a table game tracking system 1997: Expansion completed at Harrah's Atlantic City 1997: Harrah's St. Louis-Riverport opened in Maryland Heights, Missouri 1997: Harrah's consolidated two Tunica properties into Harrah's Tunica Mardis Gras 1997: Harrah's Cherokee Smoky Mountains opened in partnership with the Eastern Band of Cherokee in North Carolina 1998: Sky City Limited bought out Harrah's management contract for Harrah's Sky City Casino in Auckland, New Zealand 1998: Harrah's and the Prarie Band of Potawatomi Nation opened Harrah's Prarie Band in Kansas 1998: Harrah's acquired Showboat, Inc, keeping its Showboat casino in Atlantic City, renaming its Indiana riverboat casino "Harrah's East Chicago," and selling its Las Vegas casino and having its management contract for the Star City casino in Sydney, Australia bought out 1998: Harrah's ceased management of the casino owned by the Upper Skagit Tribe in Washington state 1998: The Hampton Inn at Harrah's Reno is converted to the Harrah's Brand 1998: Harrah's New Orleans land-based casino project emerges from bankruptcy 1998: Harrah's acquired the assets of Boyd Gaming's Sam's Town Kansas City, relocated its boat, and sells its property 1999: Harrah's acquired the Rio Hotel and Casino in Las Vegas via merger 1999: Harrah's began partnering with Las Vegas-based National Airlines 1999: Harrah's Tunica is sold to Isle of Capri 2000: Harrah's introduced Total Rewards, a three-tiered player loyalty program, as the successor to Total Gold 2000: Harrah's acquired Players International; its Maryland Heights casino is intergrated into Harrah's St. Louis; its Metropolis, Illinois and Lake Charles, Louisiana facilities are rebranded as Harrah's Metropolis and Harrah's Lake Charles 2001: Harrah's acquired Harvey Casino Resorts, adding Harveys Lake Tahoe, Harveys Council Bluffs (renamed Harrah's Council Bluffs), and the Bluffs Run Casino (Council Bluffs, Iowa); Harvey's Wagon Wheel in Central City, Colorado is sold 2001: Expansion to Harrah's Phoenix Ak-Chin opened 2002: Harrah's acquired a controlling interest in Louisiana Downs, a thoroughbread racetrack in Bossier City, Louisiana 2002: Harrah's acquired all of the JCC Holding Co and becomes sole owner of Harrah's New Orleans 2002: Harrah's Rincon Casino and Resort, a casino owned by the Rincon San Luiseno Band of Mission Indians and managed by Harrah's, opens in San Diego County, California 2003: Louisiana Downs opened as a racing/gaming facility with 900 slot machines 2004: Harrah's acquired Binion's Horseshoe, then sells the casino to the MTR group; Harrah's retains the rights to the Horseshoe name in Nevada and the World Series of Poker Tournament 2004: Harrah's acquired Horseshoe Gaming Holding Corp., giving it Horseshoe casinos in Hammond, Indiana, Bossier City, Louisiana, and Runica, Mississippi 2004: Harrah's began running World Series of Poker-branded events at its properties nationwide 2005: Harrah's acquired by merger the assets of Caesars Entertainment (formerly Park Place Entertainment), including:
(Several other Caesars properties are sold off prior to the merger) 2005: Hurricane Katrina demolished the Grand Casinos Gulfport and Biloxi, and forced the closure of Harrah's New Orleans 2006: Harrah's New Orleans reopened 2006: Harrah's renovated the Bluffs Run casino and rebranded it as the Horseshoe Council Bluffs 2006: Harrah's acquired London Clubs International for $568 million. 2006: Harrah's sold Flamingo Laughlin to American Real Estate Partners for $170 million 2007: Harrah's acquired Barbary Coast from Boyd Gaming in exchange for 24 acres of land for the future Echelon project, Barbary Coast renamed to Bill's Gamblin' Hall and Saloon, in recognition of Harrah's founder Bill Harrah 2007: Harrah's acquired the Orient Golf Club on the Cotai Strip in Macau for approximately $580 million. 2007: In a $17 billion leveraged buyout, private equity firms Texas Pacific and Apollo Management take Harrah's Entertainment private 2008: Harrah's rebranded Casino Windsor (Ontario) as Caesars Windsor 2008: Harrah's opens a major expansion and spa at Harrah's Atlantic City 2009:The Sheraton Casino and Hotel Tunica was renamed to Tunica Roadhouse and Casino Hotel 2009: Ceased operating Fifty in November (closed) 2010: Bill's casino (Lake Tahoe) closed and later sold 2010: Harrah's acquired Planet Hollywood Casino and Resort (02/19) 2010: Harrah's Entertainment changes its name to Caesars Entertainment Corporation 2011: Caesars announces construction of Linq, a retail/entertainment complex on the Las Vegas Strip 2012: In February, Caesars goes public again with an IPO, trading on the NASDAQ under the symbol CZR 2012: Caesars sells Harrah's St. Louis to Penn National 2012: Horseshoe Cleveland opens 2013: Horseshoe Cincinatti opens 2013: Bill's Gamblin' Hall (Las Vegas) closes) 2013: The Imperial Palace (Las Vegas) is renamed The Quad 2013: Caesars Interactive begins offering online gaming in New Jersey 2014: The Cromwell opens at the former site of Bill's |
| Caesars Entertainment Corporation: Current Properties |
Reno, Nevada Harrah's Reno Lake Tahoe, Nevada Harrah's Lake Tahoe Harveys Lake Tahoe Las Vegas, Nevada Harrah's Las Vegas Bally's Las Vegas Paris Las Vegas Caesars Palace Rio All-Suite Hotel and Casino Flamingo Las Vegas The Cromwell The Quad Planet Hollywood Laughlin, Nevada Harrah's Laughlin Maricopa, Arizona Harrahs Phoenix Ak-Chin Casino (managed) Valley Center, California Harrah's Rincon Casino and Resort (managed) Joliet, Illinois Harrah's Joliet (95% ownership) Metropolis, Illinois Harrah's Metropolis Elizabeth, Indiana Horseshoe Southern Indiana Hammond, Indiana Horseshoe Hammond Council Bluffs, Iowa Harrah's Council Bluffs Horseshoe Council Bluffs Bossier City, Louisiana Harrah's Louisiana Downs (racing and gaming venue) Horseshoe Bossier City New Orleans, Louisiana Harrah's New Orleans Biloxi, Mississippi Grand Biloxi Tunica, Mississippi Harrah's Tunica Horseshoe Tunica Tunica Roadhouse North Kansas City, Missouri Harrah's North Kansas City Maryland Heights, Missouri Harrah's St. Louis Atlantic City, New Jersey Bally's Atlantic City (including Claridge and Wild Wild West) Caesars Atlantic City Harrah's Atlantic City Showboat Cherokee, North Carolina Harrah's Cherokee Casino (managed) Chester, Pennsylvania Harrah's Philadelphia Cleveland, Ohio Horseshoe Cleveland (20% partner with Rock Gaming) Cincinatti, Ohio Horseshoe Cincinatti (20% partner with Rock Gaming) Windsor, Ontario, Canada Caesars Windsor (50% interest) Punta del Este, Uruguay Conrad Puna del Este Resort and Casino (86% ownership, management) London Cub International Casinos
World Series of Poker
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| Caesars Entertainment Corporation: Financial Info online |
Publicly-accessible sites SEC filings (Caesars Site) Annual Reports (2001 to 2007)
For more detailed information, check out these databases. Note: use is restricted to current UNLV faculty, staff, and students. |
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Last modified
Friday, 08-Apr-2022 11:30:29 PDT
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