Harrah’s Entertainment, Inc. Becomes Caesars Entertainment Corporation
By: Nancy Cook
Updated: November 23, 2010
Harrah’s Entertainment, Inc., has changed its name to Caesars Entertainment Corp. The Harrah’s name will continue to be one of the company’s brands, however, along with Caesars, Horseshoe, the World Series of Poker and Total Rewards.
Harrah’s agreed to buy Caesars’ Entertainment, Inc., in July 2004 for a reported $5.2 billion in cash and stock, while assuming about $4.2 of Caesars’ debt. The sale made Harrah’s the world’s largest Casino operator.
“In recognition of Caesars’ status as the world’s preeminent and most respected casino brand, we have changed the name of our parent company to Caesars Entertainment Corporation,” said Gary Loveman, chairman, president and chief executive officer of Caesars Entertainment. “The change reflects our evolution as the industry's leading provider of branded casino entertainment.”
“While our name is changing, our dedication to who we are as a company will remain the same. Our employees will remain dedicated to the innovation, customer-service excellence and corporate citizenship that have been hallmarks of our company for decades,” Gary Loveman said. “This re-branding of the corporate name can open exciting new opportunities for us in the future."
Since its beginning in Reno, Nevada, more than 70 years ago, Caesars has grown through development of new resorts, expansions and acquisitions, and now operates casinos on four continents. The company's resorts operate primarily under the Harrah's®, Caesars® and Horseshoe® brand names.
Caesars also owns the World Series of Poker® and the London Clubs International family of casinos. Caesars Entertainment is focused on building loyalty and value with its guests through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership. Caesars is committed to environmental sustainability and energy conservation and recognizes the importance of being a responsible steward of the environment.
