Harrah's Entertainment (later named Caesars Entertainment Corporation, previously The Promus Companies) was an American
casino
A casino is a facility for gambling. Casinos are often built near or combined with hotels, resorts, restaurants, retail shops, cruise ships, and other tourist attractions. Some casinos also host live entertainment, such as stand-up comedy, conce ...
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. It is the county seat and most populous city of Washoe County, Nevada, Washoe County. Sitting in the High Eastern Sierra foothills, ...
, and based in
Paradise, Nevada
Paradise is an Unincorporated towns in Nevada, unincorporated town and census-designated place (CDP) in Clark County, Nevada, United States, adjacent to the city of Las Vegas. It was formed on December 8, 1950. Its population was 191,238 at the ...
, that operated over 50 properties and seven golf courses under several brands. In 2013, it was the fourth-largest
gambling
Gambling (also known as betting or gaming) is the wagering of something of Value (economics), value ("the stakes") on a Event (probability theory), random event with the intent of winning something else of value, where instances of strategy (ga ...
company in the world, with annual revenues of $8.6 billion. It was acquired in 2020 by
Eldorado Resorts, 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
Private equity (PE) is stock in a private company that does not offer stock to the general public; instead it is offered to specialized investment funds and limited partnerships that take an active role in the management and structuring of the co ...
firms led by
Apollo Global Management
Apollo Global Management, Inc. is an American asset management firm that primarily invests in alternative assets. , the company had $548 billion of assets under management, including $392 billion invested in credit, including mezzanine capita ...
,
TPG Capital
TPG Inc., previously known as Texas Pacific Group and TPG Capital, is an American private equity firm based in Fort Worth, Texas. TPG manages investment funds in growth capital, venture capital, public equity, and debt investments. The firm in ...
, and
Paulson & Co. and
Carl Icahn
Carl Celian Icahn (; born February 16, 1936) is an American businessman and investor. He is the founder and controlling shareholder of Icahn Enterprises, a public company and diversified conglomerate holding company based in Sunny Isles Beach, ...
. 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, wh ...
in 2015, which led to the foundation of
Vici Properties
Vici Properties Inc. is an American real estate investment trust (REIT) specializing in casino and entertainment properties, based in New York City. It was formed in 2017 as a spin-off from Caesars Entertainment Corporation as part of its bankr ...
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
Reno, Nevada
Reno ( ) is a city in the northwest section of the U.S. state of Nevada, along the Nevada–California border. It is the county seat and most populous city of Washoe County, Nevada, Washoe County. Sitting in the High Eastern Sierra foothills, ...
, a predecessor to
Harrah's Reno.
In 1955, he expanded to
Stateline, Nevada
Stateline is a census-designated place (CDP) on the southeastern shore of Lake Tahoe in Douglas County, Nevada, Douglas County, Nevada, United States. It lies next to the border with California and is conurbated with South Lake Tahoe, California ...
, on the south shore of
Lake Tahoe
Lake Tahoe (; Washo language, Washo: ''dáʔaw'') is a Fresh water, freshwater lake in the Sierra Nevada of the Western United States, straddling the border between California and Nevada. Lying at above sea level, Lake Tahoe is the largest a ...
, 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 owned by Vici Properties and operated by Eldorado Resorts, Caesars Entertainment. The 18- ...
.
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 investm ...
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 known ...
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, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...
.
In 1978, Bill Harrah died at the
Mayo Clinic Hospital in Rochester, Minnesota, at the age of 66, during a
cardiac surgery operation to repair an
aortic aneurysm.
Under Holiday Inn
In February 1980,
Holiday Inn
Holiday Inn by IHG is a chain of hotels based in Atlanta, Georgia and a brand of IHG Hotels & Resorts. The chain was founded in 1952 by Kemmons Wilson (1913–2003), who opened the first location in Memphis, Tennessee. 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 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 limits ...
.
[
In July 1987, Bill's Casino Lake Tahoe 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, Promus was created as a corporate spin-off
A corporate spin-off, also known as a spin-out, 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. It is distinct ...
, holding Harrah's, Embassy Suites, Homewood Suites, and Hampton Inn; 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 Shelby County, Tennessee, United States, and its county seat. Situated along the Mississippi River, it had a population of 633,104 at the 2020 United States census, 2020 census, making it the List of municipalities in Tenne ...
.
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 casinos. 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.
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 Auckland CBD, central business district of Auckland, New Zealand, between Victoria and Federal Streets. Located at the base of the Sky Tower (Auckland), Sky Tower, it was the second ...
, Harrah's St. Louis-Riverport, Harrah's Cherokee, Harrah's Prairie Band, Harrah's New Orleans, and Harrah's Rincon, and acquiring the Southern Belle Casino, Showboat, Inc., the Rio All Suite Hotel and Casino, Players International
Players International was a company, based in Atlantic City, New Jersey, that built and operated riverboat casinos and a horse racing track.
History
The company was founded by brothers David and Edward Fishman in 1984. The company was original ...
, Harveys Casino Resorts, Louisiana Downs, Horseshoe Gaming, and the World Series of Poker.
On September 4, 1997, Harrah's Entertainment launched its Total Gold loyalty program
A loyalty program or rewards program is a marketing strategy designed to encourage customers to continue to shop at or use the services of one or more businesses associated with the program.
Single-company vs. coalition programs
Loyalty progr ...
(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
Harvard Business School (HBS) is the graduate school, graduate business school of Harvard University, a Private university, private Ivy League research university. Located in Allston, Massachusetts, HBS owns Harvard Business Publishing, which p ...
professor Gary Loveman joined Harrah's as chief operating officer
A chief operating officer (COO), also called chief operations officer, is an executive in charge of the daily operations of an organization (i.e. personnel, resources, and logistics). COOs are usually second-in-command immediately after the C ...
in 1998, and would go on to serve as chief executive officer
A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization.
CEOs find roles in variou ...
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 multinational hospitality, sports and entertainment company. It operates resorts in Las Vegas, Massachusetts, Michigan, Mississippi, Maryland, Ohio, New Jersey, Macau, Shanghai, Chengdu, Hangzhou and San ...
and Mandalay Resort Group. The two companies sold several properties ahead of the merger to assuage antitrust
Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as antitrust l ...
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 rollers.
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 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, Imperial Palace, Barbary Coast
The Barbary Coast (also Barbary, Berbery, or Berber Coast) were the coastal regions of central and western North Africa, more specifically, the Maghreb and the Ottoman borderlands consisting of the regencies in Algiers, Tunis, and Tripoli, a ...
, and Planet Hollywood 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
Hurricane Rita was the most intense tropical cyclone on record in the Gulf of Mexico, tying with Hurricane Milton in 2024 Atlantic hurricane season, 2024, as well as being the fourth-most intense Atlantic hurricane ever recorded. Part of the ...
, sold the Flamingo Laughlin and sold Grand Casino Gulfport.
Company goes private
Loveman at some point sought advice from private equity
Private equity (PE) is stock in a private company that does not offer stock to the general public; instead it is offered to specialized investment funds and limited partnerships that take an active role in the management and structuring of the co ...
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, pronounced "reet") is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of real estate, including office and apartment buildings, studios, warehouses, hos ...
(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 the acquisition of a company using a significant proportion of borrowed money (Leverage (finance), leverage) to fund the acquisition with the remainder of the purchase price funded with private equity. The assets of t ...
of Harrah's by Bonderman's company, TPG Capital
TPG Inc., previously known as Texas Pacific Group and TPG Capital, is an American private equity firm based in Fort Worth, Texas. TPG manages investment funds in growth capital, venture capital, public equity, and debt investments. The firm in ...
. Another private equity firm, Apollo Global Management
Apollo Global Management, Inc. is an American asset management firm that primarily invests in alternative assets. , the company had $548 billion of assets under management, including $392 billion invested in credit, including mezzanine capita ...
, 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 would add 20 restaurants and bars between the company's Imperial Palace, O'Sheas and Flamingo casinos, on the east side of the Las Vegas Strip
The Las Vegas Strip is a stretch of Las Vegas Boulevard 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 limits ...
. The goal was to create an entertainment district similar to what had developed organically in Los Angeles
Los Angeles, often referred to by its initials L.A., is the List of municipalities in California, most populous city in the U.S. state of California, and the commercial, Financial District, Los Angeles, financial, and Culture of Los Angeles, ...
, Memphis and New Orleans
New Orleans (commonly known as NOLA or The Big Easy among other nicknames) is a Consolidated city-county, consolidated city-parish located along the Mississippi River in the U.S. state of Louisiana. With a population of 383,997 at the 2020 ...
but did not yet exist on the Strip, with its enclosed and casino-centric zones. It provided competition for the Fremont Street Experience.
Las Vegas Arena
The Anschutz Entertainment Group
Anschutz Entertainment Group, Inc. (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 ...
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, largest city of France. With an estimated population of 2,048,472 residents in January 2025 in an area of more than , Paris is the List of ci ...
casino-hotels. Caesars Entertainment, Inc. had previously envisioned using the location to build a baseball park
A ballpark, or baseball park, is a type of sports venue where baseball is played. The playing field is divided into two field sections called the infield and the outfield. The infield is an area whose dimensions are rigidly defined in part ba ...
, 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 during the 2008 financial crisis
The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners ...
. 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 regarding using public money in the project stalled it even further. AEG eventually backed out completely by 2012, once MGM Resorts International
MGM Resorts International is an American Multinational corporation, multinational hospitality, sports and entertainment company. It operates resorts in Las Vegas, Massachusetts, Michigan, Mississippi, Maryland, Ohio, New Jersey, Macau, Shanghai, ...
came up with their own project
A project is a type of assignment, typically involving research or design, that is carefully planned to achieve a specific objective.
An alternative view sees a project managerially as a sequence of events: a "set of interrelated tasks to be ...
using a terrain behind the New York-New York and Monte Carlo
Monte Carlo ( ; ; or colloquially ; , ; ) is an official administrative area of Monaco, specifically the Ward (country subdivision), ward of Monte Carlo/Spélugues, where the Monte Carlo Casino is located. Informally, the name also refers to ...
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 ( ; colloquially nicknamed Cincy) is a city in Hamilton County, Ohio, United States, and its county seat. Settled in 1788, the city is located on the northern side of the confluence of the Licking River (Kentucky), Licking and Ohio Ri ...
and Cleveland
Cleveland is a city in the U.S. state of Ohio and the county seat of Cuyahoga County. Located along the southern shore of Lake Erie, it is situated across the Canada–U.S. maritime border and approximately west of the Ohio-Pennsylvania st ...
in Ohio
Ohio ( ) is a U.S. state, state in the Midwestern United States, Midwestern region of the United States. It borders Lake Erie to the north, Pennsylvania to the east, West Virginia to the southeast, Kentucky to the southwest, Indiana to the ...
when they opened in 2012.
Renamed as Caesars Entertainment Corporation
On November 23, 2010, plans for an 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. Vici Properties
Vici Properties Inc. is an American real estate investment trust (REIT) specializing in casino and entertainment properties, based in New York City. It was formed in 2017 as a spin-off from Caesars Entertainment Corporation as part of its bankr ...
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 chief Jack Ma
Ma Yun (; born 10 September 1964), or more commonly referred as Jack Ma, is a Chinese businessman and philanthropist. He is the founder of the Jack Ma Foundation, and co-founder of Alibaba Group and Yunfeng Capital. As of May 2025, Ma's ne ...
'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 Vici Properties
Vici Properties Inc. is an American real estate investment trust (REIT) specializing in casino and entertainment properties, based in New York City. It was formed in 2017 as a spin-off from Caesars Entertainment Corporation as part of its bankr ...
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
In February 2019, Turner Sports
TNT Sports is the division of Warner Bros. Discovery in the United States that is responsible for Sports broadcasting, sports broadcasts on its parent company's streaming service, Max (streaming service), Max, and primarily the TruTV, TBS (Americ ...
announced an agreement with Caesars to provide sports betting content for its sports news website ''Bleacher Report
''Bleacher Report'' (often abbreviated as B/R) is a website that focuses on sports and sports culture. Its headquarters are in San Francisco, with offices in New York City and London. ''Bleacher Report'' was acquired by Time Warner's Turner B ...
'', including a dedicated studio at Caesars Palace in Las Vegas.
On March 17, 2019, it was announced that Caesars Entertainment Corporation and Eldorado Resorts 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.
In May 2019, ESPN
ESPN (an initialism of their original name, which was the Entertainment and Sports Programming Network) is an American international basic cable sports channel owned by the Walt Disney Company (80% and operational control) and Hearst Commu ...
announced a partnership with Caesars Entertainment, in which it would be the exclusive provider of sports odds across its programming, and ESPN would construct a Las Vegas studio at The Linq
The Linq (formerly Flamingo Capri, Imperial Palace and The Quad) is a casino hotel on the Las Vegas Strip in Paradise, Nevada. It is owned and operated by Eldorado Resorts, Caesars Entertainment. It opened as the Flamingo Capri on October 30, 1 ...
devoted to sports betting-oriented programming.
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 Carl Icahn
Carl Celian Icahn (; born February 16, 1936) is an American businessman and investor. He is the founder and controlling shareholder of Icahn Enterprises, a public company and diversified conglomerate holding company based in Sunny Isles Beach, ...
, 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.
Shareholders of Caesars and Eldorado approved the merger on November 15, 2019, and it was completed in July 2020.
Fines and settlements
In 2015 the US Treasury's Financial Crimes Enforcement Network
The Financial Crimes Enforcement Network (FinCEN) is a bureau within the United States Department of the Treasury that collects and analyzes information about financial transactions to combat domestic and international money laundering, terrori ...
(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
The Gambling Commission is an executive, non-departmental public body of the Government of the United Kingdom responsible for regulating gambling and supervising gaming law in Great Britain. Its remit covers arcades, betting, bingo, casin ...
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 Vici Properties
Vici Properties Inc. is an American real estate investment trust (REIT) specializing in casino and entertainment properties, based in New York City. It was formed in 2017 as a spin-off from Caesars Entertainment Corporation as part of its bankr ...
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
** Harrah's Cherokee Valley River
** Harrah's Council Bluffs
** Harrah's Gulf Coast
** Harrah's Hoosier Park Racing & Casino
** Harrah's Joliet
** 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 owned by Vici Properties and operated by Eldorado Resorts, Caesars Entertainment. The 18- ...
** Harrah's Las Vegas
** Harrah's Laughlin
** Harrah's Louisiana Downs
** Harrah's Metropolis
** Harrah's New Orleans
** 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
The Linq (formerly Flamingo Capri, Imperial Palace and The Quad) is a casino hotel on the Las Vegas Strip in Paradise, Nevada. It is owned and operated by Eldorado Resorts, Caesars Entertainment. It opened as the Flamingo Capri on October 30, 1 ...
** Paris Las Vegas
Paris Las Vegas is a casino hotel on the Las Vegas Strip in Paradise, Nevada. It is owned and operated by Caesars Entertainment. Property features include a casino, 3,672 hotel rooms, a 1,400-seat performance theater, and various restaurants. ...
** Planet Hollywood Las Vegas
Planet Hollywood Las Vegas (formerly the Aladdin) is a casino hotel on the Las Vegas Strip in Paradise, Nevada, Paradise, Nevada, United States. It is owned and operated by Caesars Entertainment. The resort includes a casino and 2,494 hotel r ...
* Other US casinos
** Harveys Lake Tahoe
Caesars Republic Lake Tahoe (formerly Harveys Lake Tahoe) is a hotel and casino located in Stateline, Nevada. It has 742 rooms and suites as well as six restaurants and a casino with of space. It also has a video arcade, wedding chapel, po ...
** Indiana Grand Racing & Casino
** Rio All Suite Hotel and Casino
* International casinos
** Caesars Windsor, Canada
** London Clubs International (12 locations)
Properties previously operated by the company included:
* Atlantic City Country Club
* Atlantic Club Casino Hotel
* Bill's Casino Lake Tahoe
* Binion's Horseshoe
* Bourbon Street Hotel and Casino
* Caesars Golf Macau
* Caesars Palace at Sea
* Flamingo Laughlin
* Grand Casino Gulfport
* Harrah's East Chicago
* Harrah's Prairie Band
* Harrah's Reno
* Harrah's Shreveport
* Harrah's Sky City
* Harrah's St. Louis
* Harrah's Casino Tunica
* 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
Further reading
*
External links
*
{{Authority control
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