Harrah's Entertainment
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Harrah's Entertainment, Inc.
Harrah's Entertainment, Inc. Template:NYSE is a gaming corporation that operates a number of casinos in the United States. The company is based in Las Vegas, Nevada.
As of 2004, Harrah's owns 26 casinos in 13 states, under the following brands:
- Harrah's
- Harveys
- Horseshoe
- Rio
- Showboat
Brands added from the 2005 merger with Caesars Entertainment:
- Bally's
- Flamingo
- Paris
- Caesars
- Grand Casino
History
The company started out in 1937 as a small bingo parlor in Reno, Nevada operated by Bill Harrah.
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.
On June 13, 2005 Harrah's completed the acquisition of Caesars. While the companies were not required to divest any properities, they did sell several properities before the merger was completed. This merger made Harrah's the largest gambling company with over 4 million square feet of casinos, almost 100,000 employees and over 40 casinos.
No name changes were immediately announced, but in the weeks following the closing of the merger, rumors began circulating over the future of the Bally's Las Vegas location. One option being suggested is to change the branding of the hotel from Bally's to Horseshoe. Another option being considered is to raze the property and construct something entirely new.
External link
- Harrah's homepage (http://www.harrahs.com/)