Harrah's Entertainment (later named Caesars Entertainment Corporation, previously The Promus Companies) was an American

casino A casino is a facility for certain types of gambling. Casinos are often built near or combined with hotels, resorts, restaurants, retail shopping, cruise ships, and other tourist attractions. Some casinos are also known for hosting live entertai ...

and

hotel A hotel is an establishment that provides paid lodging on a short-term basis. Facilities provided inside a hotel room may range from a modest-quality mattress in a small room to large suites with bigger, higher-quality beds, a dresser, a re ...

company founded in

Reno, Nevada Reno ( ) is a city in the northwest section of the U.S. state of Nevada, along the Nevada-California border, about north from Lake Tahoe, known as "The Biggest Little City in the World". Known for its casino and tourism industry, Reno is the ...

, and based in Paradise, Nevada, that operated over 50 properties and seven golf courses under several brands. In 2013, it was the fourth-largest gaming company in the world, with annual revenues of $8.6 billion. It was acquired in 2020 by

Eldorado Resorts Caesars Entertainment, Inc., formerly Eldorado Resorts, Inc., is an American hotel and casino entertainment company founded and based in Reno, Nevada that operates more than 50 properties. Eldorado Resorts acquired Caesars Entertainment Corporat ...

, which then changed its own name to Caesars Entertainment. At the end of its existence, Caesars was a public company, majority-owned by a group of

private equity In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a t ...

firms led by Apollo Global Management,

TPG Capital TPG Inc., previously known as Texas Pacific Group and TPG Capital, is an American investment company based in Fort Worth, Texas. The private equity firm is focused on leveraged buyouts and growth capital. TPG manages investment funds in growth c ...

, and Paulson & Co.; and

Carl Icahn Carl Celian Icahn (; born February 16, 1936) is an American financier. He is the founder and controlling shareholder of Icahn Enterprises, a public company and diversified conglomerate holding company based in Sunny Isles Beach. Icahn takes la ...

. Caesars's largest operating unit filed for

Chapter 11 bankruptcy protection Chapter 11 of the United States Bankruptcy Code ( Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whet ...

in 2015, which led to the foundation of

Vici Properties Vici Properties Inc. is a real estate investment trust (REIT) specializing in casino properties, based in New York City. It was formed in 2017 as a spin-off from Caesars Entertainment Corporation as part of its bankruptcy reorganization. It owns ...

as a result.

History

William F. Harrah era (1937–1978)

The company's background can be traced to October 29, 1937, when Bill Harrah opened a small

bingo parlor In the United States, bingo is a game of chance in which each player matches the numbers printed in different arrangements on cards. The game host (caller) draws at random, marking the selected numbers with tiles. When a player finds the selec ...

, a predecessor to

Harrah's Reno Harrah's Reno is a closed casino hotel in downtown Reno, Nevada. It is owned by CAI Investments, which plans to renovate the building as a mixed-use development named Reno City Center. It is credited for being the first property of the Harrah's ...

. 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 Lake Tahoe is a hotel and casino in Stateline, Nevada. Harrah's is branded with the name of its former owner and operator William F. Harrah. It is now owned by Vici Properties and operated by Caesars Entertainment. The 18-story tower an ...

. Harrah's Inc. made its

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...

in 1971. In 1972, it was listed on the

American Stock Exchange NYSE American, formerly known as the American Stock Exchange (AMEX), and more recently as NYSE MKT, is an American stock exchange situated in New York City. AMEX was previously a mutual organization, owned by its members. Until 1953, it was know ...

and in 1973, Harrah's became the first casino company listed on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed ...

. Bill Harrah died at the Mayo Clinic Hospital in Rochester, Minnesota, at the age of 66, during a

cardiac surgery Cardiac surgery, or cardiovascular surgery, is surgery on the heart or great vessels performed by cardiac surgeons. It is often used to treat complications of ischemic heart disease (for example, with coronary artery bypass grafting); to co ...

operation to repair an aortic aneurysm.

Under Holiday Inn

In February 1980,

Holiday Inn Holiday Inn is an American chain of hotels based in Atlanta, Georgia. and a brand of IHG Hotels & Resorts. The chain was founded in 1952 by Kemmons Wilson, who opened the first location in Memphis, Tennessee that year. The chain was a division ...

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 The Las Vegas Strip is a stretch of Las Vegas Boulevard South in Clark County, Nevada, that is known for its concentration of resort hotels and casinos. The Strip, as it is known, is about long, and is immediately south of the Las Vegas city ...

. In July 1987,

Bill's Casino Lake Tahoe Bill's Lake Tahoe was a casino located in Stateline, Nevada, Stateline, Nevada owned and operated by and connected to next-door Harrah's Lake Tahoe. History Bill's opened during the 50th Anniversary of Harrah's in 1987 and was named in honor of ...

opened. Harrah's Laughlin opened in August 1988.

The Promus Companies

The company that would become Harrah's Entertainment was formed in 1990 as The Promus Companies. To effect the sale of the Holiday Inn hotel business to

Bass PLC Six Continents was a large British-based hotel and hospitality business which was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index. History The company was formed in June 2000 when the brewing business of Ba ...

, Promus was created as a

corporate spin-off A corporate spin-off, also known as a spin-out, or starburst or hive-off, is a type of corporate action where a company "splits off" a section as a separate business or creates a second incarnation, even if the first is still active. Characte ...

, holding Harrah's,

Embassy Suites Embassy Suites by Hilton is a chain of upper upscale all-suite hotels trademarked by Hilton Worldwide. As of December 31, 2019, there are 257 locations in five countries and territories with 59,712 rooms. Similar to other Hilton brands, 212 Em ...

, Homewood Suites, and

Hampton Inn Hampton by Hilton, formerly known (and still commonly referred to) as Hampton Inn or Hampton Inn & Suites, is an American chain of hotels trademarked by Hilton Worldwide. The Hampton hotel brand is a chain of moderately priced, budget to midscale ...

; Bass then acquired Holiday Corp., which retained only the Holiday Inn assets. The next year, the company's headquarters moved from Reno to

Memphis, Tennessee Memphis is a city in the U.S. state of Tennessee. It is the seat of Shelby County in the southwest part of the state; it is situated along the Mississippi River. With a population of 633,104 at the 2020 U.S. census, Memphis is the second-mos ...

. In April 1992, the Holiday Casino was rebranded as Harrah's Las Vegas. The late 1980s and early 1990s saw a rapid increase in gambling markets with the growth of Indian gaming and legalization of

riverboat casino A riverboat casino is a type of casino on a riverboat found in several states in the United States with frontage on the Mississippi River and its tributaries, or along the Gulf Coast. Several states authorized this type of casino in order to e ...

s. In 1993 and 1994, the company opened Harrah's Joliet, Harrah's Vicksburg, Harrah's Tunica, Harrah's Black Hawk, Harrah's Central City, Harrah's Shreveport, Harrah's North Kansas City, and

Harrah's Ak-Chin Harrah's Ak-Chin is a hotel and casino located 39 miles (63 km) south of Phoenix, Arizona in Maricopa. It is owned by the Ak-Chin Indian Community and operated by Caesars Entertainment. The casino features video poker and slot machines, as ...

Renamed as Harrah's Entertainment

In 1995, Promus decided to spin off its non-gaming hotel businesses, in part because they had been undervalued by investors due to perception of the company as a risky gaming stock. Promus Hotel Corp. was established, holding Embassy Suites, Hampton Inn, and Homewood Suites, while the parent company, holding 16 casinos, was renamed as Harrah's Entertainment. Harrah's continued its expansion over the next ten years, opening Harrah's Skagit Valley,

SkyCity Auckland Skycity Auckland is an entertainment complex and casino in the central business district of Auckland, New Zealand, between Victoria and Federal Streets. Located at the base of the Sky Tower, it was the second casino in New Zealand, and is the on ...

, Harrah's St. Louis-Riverport,

Harrah's Cherokee Harrah's Cherokee Casino Resort is a casino and hotel on the Qualla Boundary in Cherokee, North Carolina. It is owned by the Eastern Band of Cherokee Indians (EBCI) and operated by Caesars Entertainment. It is located on the site of the former F ...

, Harrah's Prairie Band,

Harrah's New Orleans Harrah's New Orleans is a casino in New Orleans, Louisiana, United States, near the foot of Canal Street a block away from the Mississippi River. It is a casino with approximately 2,100 slot machines, over 90 table games and a poker room. The ...

, and

Harrah's Rincon Harrah's Resort Southern California (formerly Harrah's Rincon) is a Native American gaming casino and hotel in Valley Center, California. It is owned by the Rincon Band of Luiseño Indians and operated by Caesars Entertainment. Hotel rooms The h ...

, and acquiring the

Southern Belle Casino Resorts Casino Tunica, formerly Southern Belle Casino and Harrah's Tunica Mardi Gras Casino, was a 201-room hotel and a casino located in Tunica Resorts, Mississippi. It was one of three casinos located in the "Casino Strip" area, along with Sa ...

, Showboat, Inc., the

Rio All Suite Hotel and Casino The Rio is a hotel and casino near the Las Vegas Strip in Paradise, Nevada, United States. It is owned by Dreamscape Companies LLC and operated by Caesars Entertainment. It includes a casino and 2,520 suites. It features a Brazilian theme based ...

, Players International, Harveys Casino Resorts,

Louisiana Downs Louisiana Downs Casino & Racetrack is a horse racing track and racino located in Bossier City in northwestern Louisiana. It opened in 1974. The casino features over 800 slot machines. The track specification is a dirt track of & turf course of . ...

, Horseshoe Gaming, and the

World Series of Poker The World Series of Poker (WSOP) is a series of poker tournaments held annually in Paradise, Nevada and, since 2004, sponsored by Caesars Entertainment. It dates its origins to 1970, when Benny Binion invited seven of the best-known poker p ...

. On September 4, 1997, Harrah's Entertainment launched its Total Gold

loyalty program A loyalty program is a marketing strategy designed to encourage customers to continue to shop at or use the services of a business associated with the program. Today, such programs cover most types of commerce, each having varying features and ...

(renamed as Total Rewards on April 4, 2000 and again as Caesars Rewards on February 1, 2019), developed at a cost of $20 million. It was the first gaming company to offer a systemwide comps program, allowing points earned at one casino to be redeemed for goods and services at any of the company's other casinos. The system would be credited as a major driver of Harrah's growth over the coming years. Harvard Business School professor

Gary Loveman Gary William Loveman (born April 12, 1960) is an American economist, businessman, and former academic professor. After nine years on the faculty of Harvard Business School, he left in 1998 to become COO of Harrah's Entertainment, which, followin ...

joined Harrah's as

chief operating officer A chief operating officer or chief operations officer, also called a COO, is one of the highest-ranking executive positions in an organization, composing part of the " C-suite". The COO is usually the second-in-command at the firm, especially if ...

in 1998, and would go on to serve as

chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especial ...

from 2003 to 2015. In 1999, the company moved its headquarters from Memphis to Las Vegas.

Purchase of Caesars Entertainment, Inc.

Harrah's made its largest single expansion in 2005, when it acquired Caesars Entertainment, Inc. for $10.4 billion. Negotiations were spurred on by news of a merger agreement between

MGM Mirage MGM Resorts International is an American global hospitality and entertainment company operating destination resorts in Las Vegas, Massachusetts, Detroit, Mississippi, Maryland, and New Jersey, including Bellagio, Mandalay Bay, MGM Grand, and Pa ...

and Mandalay Resort Group. The two companies sold several properties ahead of the merger to assuage antitrust concerns, including Harrah's East Chicago and Harrah's Mardi Gras. The acquisition increased Harrah's portfolio to 40 casinos, plus four cruise ship casinos. The deal furthered Harrah's goal of gaining a larger presence on the Las Vegas Strip, where Caesars owned four casinos, and improved its ability to market to

high roller A high roller, also referred to as a whale or cheetah, is a gambler who consistently wagers large amounts of money. High rollers often receive lavish " comps" from casinos to lure them onto the gambling floors, such as free private jet transfer ...

s. Harrah's began to push for a larger international presence in 2005, announcing joint venture agreements to build casinos in Spain, Slovenia, and the Bahamas, and applying for a license to build a major resort in Singapore, though none of these projects would come to fruition. Harrah's also acquired

London Clubs International Metropolitan Gaming is a British gaming company that operates eleven casinos in the United Kingdom, Egypt, and South Africa. It is owned by Silver Point Capital. The casinos began as part of Grand Metropolitan, and later became an independent com ...

in 2006, and the Macau Orient Golf club in 2007. From 2005 to 2010, the company consolidated control of a long stretch of the east side of the Las Vegas Strip, acquiring the

Bourbon Street Bourbon Street (french: Rue Bourbon, es, Calle de Borbón) is a historic street in the heart of the French Quarter of New Orleans. Extending thirteen blocks from Canal Street to Esplanade Avenue, Bourbon Street is famous for its many bars an ...

, Imperial Palace, Barbary Coast, and

Planet Hollywood Planet Hollywood International Inc. (stylized as planet Hollywood, planet Hollywood observatory and ph) is a themed restaurant chain inspired by the popular portrayal of Hollywood. The company is owned by Earl Enterprises corporation. Earl Ent ...

casinos, along with large tracts of land behind the Strip properties. In 2005 and 2006, Harrah's Entertainment closed its Lake Charles casino due to damage from Hurricane Rita, sold the

Flamingo Laughlin The Aquarius Casino Resort (formerly Flamingo Hilton Laughlin and Flamingo Laughlin) is a hotel and casino located on the banks of the Colorado River in Laughlin, Nevada. It is owned and operated by Golden Entertainment and is the largest hotel ...

and sold

Grand Casino Gulfport Grand Casino was a riverboat casino and hotel in Biloxi, Mississippi, United States. It was owned and operated by Harrah's Entertainment. Prior to its destruction by Hurricane Katrina, the casino had two hotels with a total of 1,000 rooms, and a ...

Company goes private

Loveman at some point sought advice from

tycoon David Bonderman about the possibility of spinning off ownership of Harrah's Entertainment real estate as a separate

real estate investment trust A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, warehouses, hospitals, shopping cente ...

(REIT), hoping to attain the higher price-to-earnings ratios at which hotel companies traded, compared to gaming companies. In 2006, the discussions evolved toward the idea of a

leveraged buyout A leveraged buyout (LBO) is one company's acquisition of another company using a significant amount of borrowed money ( leverage) to meet the cost of acquisition. The assets of the company being acquired are often used as collateral for the loa ...

of Harrah's by Bonderman's company,

. Another private equity firm, Apollo Global Management, approached Loveman about a buyout and he encouraged them to collaborate with TPG. By the end of the year, an agreement was announced for the two companies to buy Harrah's Entertainment for $17.1 billion in cash plus $10.7 billion in assumed debt. The transaction closed in January 2008, leaving Harrah's with $25.1 billion in debt.

The Linq

It was widely announced in previous years that the company planned to implode properties and build new ones from scratch, but after the market downturn the company conceded that it had little experience in building major resorts. Instead it developed Project LINQ in 2009, which called for retaining and improving all existing buildings while adding a collection of about 20 restaurants and bars to be built along a winding corridor between the company's Imperial Palace, O'Sheas and

Flamingo Flamingos or flamingoes are a type of wading bird in the family Phoenicopteridae, which is the only extant family in the order Phoenicopteriformes. There are four flamingo species distributed throughout the Americas (including the Caribbea ...

casinos, on the east side of the

. It was an attempt to create the kind of entertainment district that had developed organically in cities such as

Los Angeles Los Angeles ( ; es, Los Ángeles, link=no , ), often referred to by its initials L.A., is the List of municipalities in California, largest city in the U.S. state, state of California and the List of United States cities by population, sec ...

Memphis Memphis most commonly refers to: * Memphis, Egypt, a former capital of ancient Egypt * Memphis, Tennessee, a major American city Memphis may also refer to: Places United States * Memphis, Alabama * Memphis, Florida * Memphis, Indiana * Memp ...

and

New Orleans New Orleans ( , ,New Orleans

yet was lacking on the Strip, with its enclosed and casino-centric zones. It provided competition for the

Fremont Street Experience The Fremont Street Experience (FSE) is a pedestrian mall and attraction in downtown Las Vegas, Nevada. The FSE occupies the westernmost five blocks of Fremont Street, including the area known for years as "Glitter Gulch", and portions of some ...

Las Vegas Arena

The

Anschutz Entertainment Group The Anschutz Entertainment Group (AEG), also known as AEG Worldwide, is an American global sporting and music entertainment presenter and a subsidiary of The Anschutz Corporation. It is the world's largest owner of sports teams and sports even ...

first tried to build an arena in Las Vegas in association with Harrah's Entertainment. In 2007, the joint venture announced they would build a 20,000 seat stadium behind the Bally's and

Paris Paris () is the Capital city, capital and List of communes in France with over 20,000 inhabitants, most populous city of France, with an estimated population of 2,165,423 residents in 2019 in an area of more than 105 km² (41 sq mi), ma ...

casino-hotels. Caesars Entertainment, Inc. had previously envisioned using the location to build a baseball park, but the company's buyout by Harrah's cancelled the plans. Through the following year, Harrah's got uncertain on continuing with the project, not knowing if AEG would split the costs and whether building a major league-ready stadium without a guaranteed franchise to play on it would be feasible given the enduring

financial crisis A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and man ...

. The original plans were to break ground in June 2008 and finish the arena in 2010, but by 2009, it was revealed the stalled project had not even done a traffic study despite being located near a busy intersection. In 2010, the plans were changed to use an area behind the Imperial Palace. However, given the financing would require a special taxation district, opposition from the

Clark County Commission The Clark County Commission is the governmental organization that governs and runs Clark County, Nevada, providing services to the unincorporated areas. Its offices are located at the Clark County Government Center in Downtown Las Vegas. The comm ...

regarding using public money in the project stalled it even further. AEG eventually backed out completely by 2012, once MGM Resorts International came up with their own project using a terrain behind the

New York-New York New York-New York Hotel and Casino is a casino hotel on the Las Vegas Strip in Paradise, Nevada, United States. It is owned by Vici Properties and operated by MGM Resorts International, and is designed to evoke New York City in its architectu ...

and

Monte Carlo Monte Carlo (; ; french: Monte-Carlo , or colloquially ''Monte-Carl'' ; lij, Munte Carlu ; ) is officially an administrative area of the Principality of Monaco, specifically the ward of Monte Carlo/Spélugues, where the Monte Carlo Casino is ...

resorts. This attracted AEG primarily for not relying on public funding. The acquisition of Planet Hollywood provided Harrah's Entertainment with a contiguous property bordering the strip. The vacant lots behind the casinos had been slated for a sports arena large enough to hold a professional basketball or hockey team. The three casinos will have over 8,000 rooms which can be directly connected to the arena. It was announced in August 2010 that Harrah's Entertainment would run casinos in

Cincinnati Cincinnati ( ) is a city in the U.S. state of Ohio and the county seat of Hamilton County. Settled in 1788, the city is located at the northern side of the confluence of the Licking and Ohio rivers, the latter of which marks the state line wit ...

and

Cleveland Cleveland ( ), officially the City of Cleveland, is a city in the U.S. state of Ohio and the county seat of Cuyahoga County. Located in the northeastern part of the state, it is situated along the southern shore of Lake Erie, across the U.S. ...

Ohio Ohio () is a state in the Midwestern region of the United States. Of the fifty U.S. states, it is the 34th-largest by area, and with a population of nearly 11.8 million, is the seventh-most populous and tenth-most densely populated. The sta ...

when they opened in 2012.

Renamed as Caesars Entertainment Corporation

On November 23, 2010, plans for an Initial public offering, IPO were canceled, but a planned name change from Harrah's Entertainment to Caesars Entertainment Corporation did go forward and was made official on the same day. This change was intended to capitalize on the international name recognition of the Caesars brand. The Harrah's brand would remain one of the company's three primary casino brands. On February 8, 2012, an initial public offering took place, with the common stock trading on the NASDAQ under the symbol "CZR."

Caesars Acquisition Company merger

On December 22, 2014, Caesars announced its intention to acquire Caesars Acquisition Company. Under the terms of the transaction, shareholders of Caesars Acquisition Company would receive 0.664 share of Caesars Entertainment common stock for each share of Caesars Acquisition Company held.

Casino unit files for Chapter 11 bankruptcy

The casino operating unit, Caesars Entertainment Operating Company, Inc. and approximately 170 of its subsidiaries filed for Chapter 11 bankruptcy on January 15, 2015. The casino unit's parent company, Caesars Entertainment Corporation, did not file for bankruptcy protection. The casino operating group's investors initiated litigation against the parent company, Caesars Entertainment Corporation's over the parent company's debt guarantees.

was founded as a result. On November 2, 2015, Rock Gaming announced it would begin assuming management of Horseshoe Casino Cleveland, Horseshoe Casino Cincinnati and ThistleDown Racino from Caesars Entertainment and complete the transition by June 2016.

Playtika Company acquisition and sale

Caesars acquired Playtika in May 2011 for an amount between $80 and $90 million. Playtika, a social game developer company, was founded in 2010 by Robert Antokol and Uri Shahak and produced Facebook social gaming platforms (slotomania.com & caesarsgames.com). In June 2016, a Chinese consortium, which included Alibaba Group, Alibaba chief Jack Ma's Yunfeng Capital, agreed to purchase it in a buyout for $4.4 billion. On November 29, 2017, Caesars announced it was selling Harrah's Las Vegas to

while Caesars continued to operate it. The same day, they announced that they were buying Centaur Gaming. In addition, they were building a new convention center in Las Vegas named Caesars Forum.

Caesars and Eldorado merger

On March 17, 2019, it was announced that Caesars Entertainment Corporation and

were exploring a merger of the two companies. On June 23, 2019, Caesars officially accepted Eldorado's offer, reported to be worth almost $8.6 billion. Caesars controlled 53 assets compared to Eldorado's 26. After completion of the merger, 5 board members would come from Caesars and 6 would come from Eldorado. Shareholders of both companies approved of the merger on November 15, 2019, and it was completed in July 2020.

Carl Icahn investment, new CEO

On April 16, 2019, Caesars announced that Affinity Gaming CEO Anthony Rodio would become the CEO of Caesars within 30 days, replacing Mark Frissora, who announced his intention to step down in November 2018. Rodio came recommended by investor

, who owned almost 100 million shares (a 28.5% stake in Caesars as of June 17, 2019) and had reportedly been pushing Caesars to sell the company.

Fines and settlements

In 2015 the US Treasury’s Financial Crimes Enforcement Network (FinCEN) fined Caesars Entertainment’s Las Vegas casino $8 million for failing to properly police transactions for illicit activity. A 2012 IRS examination found Caesars had failed to report to the authorities over 100 incidents involving potential criminal activity. The Nevada Gaming Control Board announced a related $1.5 million penalty. Caesars Entertainment was censured by the UK's Gambling Commission in 2015 for lax money-laundering controls in at two of its London casinos. Caesars entered into a voluntary settlement, agreeing to improve its anti-money laundering processes and making a payment of £875,000 to be used for “socially responsible purposes”. In 2020 the UK Gambling Commission fined Caesars Entertainment EMEA a record £13m for failures relating to VIP schemes. The failures included allowing a customer to lose £323,000 in 12 months, despite showing signs of gambling addiction. Caesars was also found guilty of failing to prevent money laundering, and failing to check the source of funds of someone who bet £3.5m in three months, and a politically exposed person (PEP) who lost £795,000 in just over a year. Three senior managers lost their licence to run a gambling business.

Sale

In April 2020, Twin River Worldwide Holdings announced a deal with Caesars Entertainment and

to purchase Bally's Atlantic City in Atlantic City, New Jersey.

Properties

At the time of its acquisition in 2020, Caesars operated the following properties: * Bally's ** Bally's Atlantic City ** Bally's Las Vegas * Caesars ** Caesars Atlantic City ** Caesars Palace ** Caesars Southern Indiana * Harrah's ** Harrah's Ak-Chin Casino ** Harrah's Atlantic City **

** Harrah's Cherokee Valley River ** Harrah's Council Bluffs ** Grand Casino Biloxi, Harrah's Gulf Coast ** Hoosier Park, Harrah's Hoosier Park Racing & Casino ** Harrah's Joliet **

** Harrah's Las Vegas ** Harrah's Laughlin ** Harrah's Louisiana Downs ** Harrah's Metropolis **

** Harrah's North Kansas City ** Harrah's Northern California ** Harrah's Philadelphia ** Harrah's Resort Southern California * Horseshoe ** Horseshoe Casino Baltimore (50% ownership with Jack Entertainment) ** Horseshoe Bossier City ** Horseshoe Council Bluffs ** Horseshoe Hammond ** Horseshoe Casino Tunica * Other Las Vegas Strip ** The Cromwell Las Vegas ** Flamingo Las Vegas ** The Linq ** Paris Las Vegas ** Planet Hollywood Las Vegas * Other US casinos ** Harveys Lake Tahoe ** Indiana Grand Racing & Casino **

* International casinos ** Caesars Windsor, Canada **

(12 locations) Properties previously operated by the company included: * Atlantic City Country Club * Atlantic Club Casino Hotel *

* Binion's Horseshoe * Bourbon Street Hotel and Casino * Caesars Golf Macau * Caesars Palace at Sea * Flamingo Laughlin *

* Harrah's East Chicago * Harrah's Prairie Band *

* Harrah's Shreveport * Harrah's Sky City * Hollywood Casino St. Louis, Harrah's St. Louis * Harrah's Casino Tunica * Southern Belle Casino, Harrah's Tunica Mardi Gras Casino * Horseshoe Casino Cincinnati * Horseshoe Casino Cleveland * IP Casino Resort Spa * Rio Secco Golf Club * Showboat Atlantic City * Showboat Hotel and Casino * ThistleDown Racino * Tunica Roadhouse * Turfway Park (50% stake)

References

External links

* {{Authority control Harrah's Entertainment, 1990 establishments in Nevada 2012 initial public offerings 2020 mergers and acquisitions American companies established in 1990 Companies based in Paradise, Nevada Companies formerly listed on the Nasdaq Companies that filed for Chapter 11 bankruptcy in 2015 Gambling companies established in 1990 Hospitality companies established in 1990 Gambling companies of the United States Hospitality companies of the United States Poker companies