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 over $8.6 billion (2019).
The company’s resorts operate primarily in the United States. Caesars also owns the World Series of Poker and London Clubs International family of casinos. .
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The company was founded by William F. Harrah in 1937 as a small bingo parlor in Reno, Nevada. It was renamed Harrah’s Entertainment Inc. in 1995, and acquired by Hilton Hotels Corporation in 2005.
In 2010, it was spun off from Hilton as a separate company. Caesars grew through a series of acquisitions from 2006 to 2015, including the purchase of Planet Hollywood Resort and Casino in 2009 and the Linq Hotel & Casino and Harrah’s New Orleans in 2014. Caesars also acquired the World Series of Poker in 2004 and London Clubs International in 2006.
Caesars went public on the NAsdaq stock exchange under the ticker CZR in February 2012, using funds from Apollo Global Management to pay down debt and invest in upgrades to its casinos. In May 2017, Caesars announced a merger with Eldorado Resorts; however, this merger was not completed until July 2019.
The combined company is now known as Caesars Entertainment Corporation.
As of December 31, 2019, Caesars operated 55 properties under nine brands: Caesars, Harrah’s, Horseshoe, Planet Hollywood, Rio All-Suite Hotel & Casino, Bally’s Las Vegas, Flamingo Las Vegas, Paris Las Vegas and Cromwell Las Vegas. The company’s resorts provide lodging services for over 250 million guests each year through its Caesars Rewards loyalty program.
Caesars has over 27 million members in its rewards program worldwide; as of December 31, 2019 there were 6 million active members in the United States. The program allows guests to earn rewards when they stay at any of Caesars’ properties worldwide; these rewards can be used for free hotel stays, food discounts, retail purchases, show tickets and other benefits at any of Caesars’ properties or affiliates.
In 2019, Forbes magazine ranked Caesars at number 329 on its list of America’s Top 500 Companies with annual revenues of over $8.6 billion; this was an increase from 2018 when it was ranked number 356 on the list with annual revenues of $8 billion.
No, currently Caesars does not have an online casino but there are rumors that they may launch one in the near future.
