Caesars Entertainment, Inc. (NYSE: CZR) is a Las Vegas, Nevada based business that is the largest owner, operator and developer of hotels and casinos throughout the world. Originally part of the Hilton Hotels chain it was spun off from Hilton in 2000, taking the name Park Place Entertainment. In September 2003 at the annual shareholder meeting a resolution to change the name of the company to Caesars Entertainment was approved and on January 6, 2004 the name change officially took effect. The primary reason for the name change was that management felt that it would help the company to capitalize on the Caesars brand name.
Corporate and investment history
- Stephen E. Bollenbach, Chairman of the Board
- Wallace R. Barr, President and Chief Executive Officer
- Harry C. Hagerty, Executive Vice President and Chief Financial Officer
- Bernard E. DeLury Jr., Senior Vice President, Secretary and General Counsel
All of the previous and succeeding company's common stock was/is traded on the New York Stock Exchange.
- ??? to 1994 Bally Manufacturing Corporation (Ticker Symbol Unknown)
- 1994 to 1996 Company named changed to Bally Entertainment Corporation (Ticker Symbol Unknown)
- 1996 to 1998 Company purchased by Hilton Corporation. All common shares are privately held.
- 1998 to 2003 Spun off from Hilton. Name change to Park Place Entertainment. Common shares traded under Ticker Symbol PPE
- 2000 Company purchases Caesars World, Inc., acquiring properties including Caesars Palace.
- 2004 to 2005 Company named changed to Caesars Entertainment, Common shares traded under the Ticker Symbol CZR
- 2005 acquired by Harrah's Entertainment
On June 18, 2004, following approval by the Nevada Gaming Commission, Caesars completed the sale of the Las Vegas Hilton hotel-casino to Colony Capital for $280 million. A Caesars spokesperson stated that the sale would help the company focus on its major casinos on the Las Vegas Strip.
On July 14, 2004 Harrah's Entertainment agreed to purchase Caesars Entertainment for more than $5 billion subject to regulatory approvals. Regulators may require the new company to dispose of several properties, possibly in Louisiana, Mississippi, Nevada and/or New Jersey.
Properties at time of acquisition by Harrahs
- Atlantic City Hilton Hotel/Casino, Atlantic City New Jersey
- Bally's Hotel/Casino & Wild Wild West Casino, Atlantic City New Jersey
- Bally's Las Vegas
- Bally's Casino, New Orleans Louisiana
- Bally's Casino/Hotel, Tunica, Mississippi
- Caesars Hotel/Casino, Atlantic City New Jersey
- Caesars Palace at Sea
- Caesars Hotel/Casino, Elizabeth Indiana
- Caesars Palace Hotel/Casino, Gauteng South Africa
- Caesars Palace, Las Vegas
- Caesars Tahoe Hotel/Casino, Stateline Nevada
- Casino Nova Scotia, Halifax Canada
- Casino Nova Scotia, Sydney Canada
- Casino Windsor, Windsor Canada
- Claridge Casino/Hotel, Atlantic City New Jersey (See Bally's Casino/Hotel & Wild Wild West Casino for further information)
- Conrad Jupiters Hotel/Casino, Gold Coast Australia
- Conrad Resort and Casino, Punta Del Este Uruguay
- Conrad Treasury Hotel/Casino, Brisbane Australia
- Flamingo Hotel/Casino (Formerly Flamingo Hilton), Las Vegas Nevada
- Flamingo Hotel/Casino (Formerly Flamingo Hilton), Laughlin Nevada
- Grand Casino/Hotel, Biloxi Mississippi
- Grand Casino/Hotel, Gulfport Mississippi
- Grand Casino/Hotel, Tunica Mississippi
- Paris Las Vegas
- Sheraton Hotel/Casino, Tunica Mississippi
- Reno Hilton Hotel/Casino, Reno Nevada (previously called MGM Grand Reno and then Bally's Reno)
The other Caesars
Caesars Entertainment is also the name of a Bangkok, Thailand brothel who is being sued by the US company for trademark infringement, on the grounds that the Bangkok Caesars is trying to capitalize on a trademark which they neither own nor are legally licensed to use.
Companies based in Nevada Gaming companies Hospitality companies