Harrah’s Entertainment Inc. has changed the name of its parent company to Caesars Entertainment Corp.
The name change “reflects our evolution as the industry’s leading provider of branded casino entertainment,” Gary Loveman, chairman, president and CEO of Harrah’s (now Caesar’s), said in a statement.
The company, which owns
Harrah’s purchased Caesars in 2004 and remodeled and rebranded the former Grand Casino Tunica into Harrah’s Tunica in 2008.
The company recently announced it was laying off 200 of its 4,000-person work force in Tunica.
In October, Harrah’s also announced its plans for an initial public offering, which could raise $575 million to aid in the development of properties in Las Vegas and Ohio.
Harrah’s formerly was a publicly traded company, but was taken private in 2008 when it was purchased by Apollo Global Management and TPG Capital LP for $30.7 billion. Those companies will maintain a majority ownership interest after the IPO.
“While our name is changing, our dedication to who we are as a company will remain the same,” Loveman said. “Our employees will remain dedicated to the innovation, customer-service excellence and corporate citizenship that have been hallmarks of our company for decades.”
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