About Caesars Entertainment Corporation

Caesars Entertainment Corporation (formerly Harrah's Entertainment) likes to spread its bets. The firm owns and/or operates more than 50 casinos (under such names as Harrah's, Horseshoe, and Rio) in 13 US states and six countries. Altogether its facilities -- including hotels, dockside and riverboat casinos, and Native American gaming establishments -- boast more than 3 million sq. ft. of casino space and some 43,000 hotel rooms. Among its many locations on the Vegas Strip are Caesars Palace, Paris Las Vegas, and Planet Hollywood. The company went public in 2012, more than a year after it cancelled a previous IPO.


Caesars raised only around $16.3 million in its 2012 IPO, a small fraction of the $50 million it had hoped to gain.  These numbers are significantly more modest than its 2010 plans, when the firm had hoped to raise up to $532 million. In the 2012 offering, Caesars ended up selling only 1.4% of itself in one of the smallest IPOs in recent history. The company is using the proceeds for general corporate purpose and to make a dent in its long-term debt, worth a whopping $19.6 billion.

Geographic Reach

The majority of the company's casinos operate in the US, primarily under the Caesars, Harrah’s, and Horseshoe brand names. The company’s land-based casinos include locations in England, two in Egypt, one in Scotland, one in South Africa, and one in Uruguay.


The firm owns or operates a total of more than 50 casinos. Its casino entertainment facilities include land-based casinos, riverboat or dockside casinos, three managed casinos on Indian lands in the US, one managed casino in Cleveland, Ohio, one managed casino in Canada, one casino combined with a greyhound racetrack, one casino combined with a thoroughbred racetrack, and one casino combined with a harness racetrack.

In addition, through Caesars Interactive Entertainment, Inc., a majority-owned subsidiary, the company owns an online gaming business and the World Series of Poker tournament brand.

Sales and Marketing

During fiscal 2013, Caesars spent $207.9 million on advertising. That was an increase compared to the $194.2 million the company spent during fiscal 2012 and the $190.1 million it spent back in fiscal 2011.

Financial Performance

The company's revenue was $8.55 billion in fiscal 2013. That was down just slightly from the $8.58 billion it brought in during fiscal 2012 and the $8.83 billion it claimed in revenue during fiscal 2011. Although the company's revenue has been fairly steady its net income and cash flow have been nosediving. The company's net loss increased to $2.9 billion in fiscal 2013 caused by high interest rates on debts. Caesars' cash flow also decreased in fiscal 2013 as a result of increased capital expenditures associated with development costs.


Caesars has been selling off or closing less profitable assets. In fiscal 2013 it closed its Alea Leeds casino in England and sold its interest in the Macau Land Concession. In fiscal 2012 the company sold its Harrah's St. Louis casino to Penn for a purchase price of $610 million.

Also in 2012 Caesars entered into a definitive agreement with Enjoy S.A. to form a strategic relationship in Latin America. Under the terms of the agreement, Enjoy will acquire 45% of Baluma S.A., the company’s subsidiary which owns and operates the Conrad Punta Del Este Resort and Casino in Punta Del Este, Uruguay for about  $140 million in cash and stock.

Mergers and Acquisitions

In late 2012 the company purchased the assets of Buffalo Studios, a social and mobile games developer and owner of Bingo Blitz, for $45.9 million. Also that year Caesars purchased the assets of Bubbler Media, a social and mobile games developer based in Belarus, for $7.5 million.

Back in 2011 Caesars acquired an interest in Sterling Suffolk Racecourse ("Suffolk Downs"), which owns a horse-racing track in Massachusetts, along with an option to purchase additional interests and the right to manage a potential future gaming facility.

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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


  • Employer Type: Public
  • Stock Symbol: CZR
  • Stock Exchange: NASDAQ
  • CEO: Mark P. Frissora
  • CFO: Eric Hession
  • Chairman: Gary W. Loveman

Major Office Locations

  • Las Vegas, NV

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