Caesars Entertainment Corporation
 |
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Formerly called
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The Promus Companies (1990–1995) Harrah's Entertainment (1995–2010) |
|---|---|
| Public | |
| Traded as | NASDAQ: CZR |
| Industry |
Gambling Hospitality |
| Founded | October 29, 1937 |
| Founder | Bill Harrah |
| Headquarters | Paradise, Nevada, United States |
|
Key people
|
Mark Frissora (CEO) Gary Loveman (Chairman) |
| Products |
Hotels Casinos |
| Brands |
Horseshoe Gaming Holding Corporation World Series of Poker Total Rewards London Clubs International |
| Revenue |
 US$ 4.654 billion (2015) |
 US$ 573 million (2015) |
|
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US$ 5.92 billion (2015) |
|
| Total assets |
US$ 12.195 billion (2015) |
| Owner |
|
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Number of employees
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33,000 (2016) |
| Website | caesars |
Caesars Entertainment Corporation, is an American gaming corporation based in Paradise, Nevada that owns and operates over 50 casinos and hotels, and seven golf courses under several brands. It is the fourth-largest gaming company in the world, with annual revenues of $8.6 billion (2013). Caesars is a public company, majority-owned by a group of private equity firms led by Apollo Global Management and TPG Capital.
Caesars's largest operating unit filed for Chapter 11 bankruptcy protection in January 2015.
The company's background can be traced to October 29, 1937, when Bill Harrah opened a small bingo parlor in Reno, Nevada, a predecessor to Harrah's Reno. In 1955, he expanded to Stateline, Nevada, on the south shore of Lake Tahoe, where he would eventually open Harrah's Lake Tahoe.Harrah's Inc. made its initial public offering in 1971. Following that in 1972, it was listed on the American Stock Exchange and in 1973, Harrah's became the first casino company listed on the .
Bill Harrah died on June 30, 1978 of complications from aortic aneurysm and cardiac surgery at the Mayo Clinic in Rochester, Minnesota.
In February 1980, Holiday Inns acquired Harrah's, Inc. for $300 million. Liquidation of Harrah's collection of almost 7,000 antique automobiles reportedly returned the full purchase price of the company to Holiday Inn. Holiday Inn at the time had interests in two casinos: the under-construction Holiday Inn Marina Casino in Atlantic City, and a 40 percent stake in the Holiday Casino, adjacent to the Holiday Inn hotel on the Las Vegas Strip.
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Wikipedia