NEWS & VIEWS

Harrah's Changes Name to Caesars

Harrah's Entertainment has officially changed its name to Caesars Entertainment

By Jeff Schwachter
Add Comment Add Comment | Comments: 0 | Posted Nov. 28, 2010

Kim Kardashian at the Pool at Harrah's Memorial Day Weekend 2009 at Harrah's Resort in Atlantic City.

ATLANTIC CITY —  If you logged on to any of the former Harrah's Entertainment Web sites in recent days (i.e., those of Harrah's Resort, Caesars Atlantic City, Bally's and Showboat) before entering the site, a prompt would appear stating that "Harrah's Entertainment is now Caesars Entertainment."
 
The prompt adds that in recognition of "Caesars' status as the world's best known and most respected casino brand, we're changing the name of our parent company to Caesars Entertainment Corporation."
 
This wasn't any secret, as the company revealed its intentions to do so earlier this month. The change was officially made last Tuesday, Nov. 22.
 
As reported, days before the name change, the company scrapped plans to raise more than $610 million "in an initial public offering," which would have been the company's third IPO since 1937.
 
Harrah's owns more than 50 properties in a dozen U.S. states and six countries.
 
The company acquired Caesars Atlantic City in June 2005.
 
Along with its flagship Caesars Palace in Las Vegas, it owns the Caesars brand, as well as Horseshoe, Total Rewards and the World Series of Poker. It also operates 16 casinos with the Harrah's name around the country.
 
Caesars' CEO Gary Loveman on Tuesday said that his company is the "world's pre-eminent and most respected casino brand." 
 
He added: "The change reflects our evolution as the industry's leading provider of branded casino entertainment."
 
A spokesperson for the newly named company told the LA Times last week that the company has renamed its golf course in Macau to Caesars and is looking to "expand its opportunities in Europe and Asia." 
 
The newspaper also reports that: "The company also has a potential joint venture development in Ohio, an opportunity in Pennsylvania and wants to expand its online gambling offerings, which today include casino, poker and bingo games in the United Kingdom."
 
So, could online gaming in America be next for Caesars Entertainment?
 
Could Atlantic City be its hub?

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