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Harrah's Entertainment

Caesars Entertainment Corporation
Formerly called
The Promus Companies (1990–1995)
Harrah's Entertainment
(1995–2010)
Public
Traded as NASDAQCZR
Industry Gambling
Hospitality
Founded October 29, 1937; 79 years ago (1937-10-29)
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 DecreaseUS$ 4.654 billion (2015)
Increase US$ 573 million (2015)
Increase US$ 5.92 billion (2015)
Total assets Decrease US$ 12.195 billion (2015)
Owner
Number of employees
33,000 (2016)
Website caesars.com

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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