LAS VEGAS Harrah’s Entertainment Inc. has officially changed its name to Caesars Entertainment Corp., less than a week after cancelling an initial public offering that was to coincide with the name change.
The Harrah’s name will continue to be one of the company’s primary brands, along with Caesars, Horseshoe, Total Rewards and World Series of Poker, among several others.
“In recognition of Caesars’ status as the world’s preeminent and most respected casino brand, we have changed the name of our parent company to Caesars Entertainment Corporation,” says Gary Loveman, chairman, president and CEO of Caesars Entertainment. “The change reflects our evolution as the industry’s leading provider of branded casino entertainment.
“While our name is changing, our dedication to who we are as a company will remain the same. Our employees will remain dedicated to the innovation, customer-service excellence and corporate citizenship that have been hallmarks of our company for decades. This rebranding of the corporate name can open exciting new opportunities for us in the future.”
Last week, Caesars had planned to offer 31.25 million common shares for US$15 to US$17 per share, before canceling it “due to market conditions.” The company was to trade on the Nasdaq exchange under the symbol CZR, but it has not yet announced when or if the IPO will take place.
Caesars has been a private company since being taken over in 2008 by private equity firms Apollo Management and TPG.