About Caesars Entertainment Corporation

Caesars Entertainment Corporation owns and/or operates casinos. The company's casinos operate under such names as Harrah's, Horseshoe, and Rio. Altogether Caesars Entertainment Corporation's facilities -- including hotels, riverboat casinos, and gaming establishments -- boast millions of sq. ft. of casino space and thousands of hotel rooms. Among Caesars Entertainment Corporation's casino resorts located on the Vegas Strip are Caesars Palace, Paris Las Vegas, and Planet Hollywood.

Bankruptcy

Caesars Entertainment Corporation filed for Chapter 11 bankruptcy in 2015. In 2017 the company successfully refinanced a large portion of its debt, paving the way for its emergence from bankruptcy following its restructuring.

Operations

Caesars Entertainment Corporation's facilities include land-based casinos, riverboat casinos, managed casinos, one casino combined with a greyhound racetrack, one casino combined with a thoroughbred racetrack, and one casino combined with a harness racetrack.

Caesars Entertainment Operating Company, Inc. ("CEOC"), is a majority owned subsidiary of Caesars Entertainment Corporation. CEOC owns, operates, or manages gaming and resort properties in 14 states.

Geographic Reach

The majority of Caesars Entertainment Corporation's casinos operate in the US, primarily under the Caesars, Harrah's, and Horseshoe brand names. Outside of Las Vegas, the company has casino resorts in Atlantic City, NJ; Laughlin, NV; New Orleans, LA; and Baltimore, MD.

Financial Performance

Caesars Entertainment Corporation's revenue was $3.88 billion in fiscal 2016. That was a decrease compared to the prior fiscal period. Its revenues have slumped in the past two fiscal years as the company has been going through a restructuring. The restructuring also contributed to the $3.5 billion net loss Caesars Entertainment Corporation suffered in fiscal 2016. Caesars Entertainment Corporation's cash flow has also been negatively affected by the restructuring process.

Strategy

Caesars Entertainment Corporation has been selling off or closing less profitable assets. For example, the company closed its Showboat Atlantic City casino, the Harrah's Tunica casino, and the Golden Nugget casino in London. The company is likely to sell or divest more properties and assets to further consolidate its operations.

Caesars Entertainment Corporation is focused on building customer loyalty by providing its guests with great service and through its Total Rewards program. The company is committed to environmental sustainability and energy conservation. Like many modern corporations, Caesars Entertainment Corporation recognizes the importance of being a responsible steward of the environment.

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Caesars Entertainment Corporation

1 Caesars Palace Dr
Las Vegas, NV 89109-8969
Phone: 1 (702) 407-6000
Fax: 1 (702) 407-6022

Stats

  • Employer Type: Public
  • President and CEO: Mark P. Frissora
  • CFO: Eric Hession
  • Chairman: Gary W. Loveman
  • 2016 Employees: 31,000

Major Office Locations

  • Las Vegas, NV

Other Locations

  • Maricopa, AZ
  • Sacramento, CA
  • Joliet, IL
  • Metropolis, IL
  • Baltimore, MD
  • Biloxi, MS
  • Cherokee, NC
  • Atlantic City, NJ
  • Reno, NV
  • Stateline, NV
  • New York, NY
  • Chester, PA
  • Dallas, TX
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