Caesars Entertainment is a diversified gaming and hospitality company based in Reno, NV. Founded by the Carano family in 1973, the company’s primary source of revenues is generated through gaming operations that include mobile, online gaming and sports betting.
Apart from this, the company also utilizes its hotels, restaurants, bars, entertainment, racing, sportsbook offerings, retail shops and other services to attract customers to its properties. The company’s resorts operate primarily under the Caesars, Harrah's, Horseshoe and Eldorado brand names. Also, the company has operations in five countries outside the United States. The principal operating activities occur in three regionally-focused reportable segments: (1) Las Vegas, (2) Regional, (3) Caesars Digital and (4) Managed and International, in addition to Corporate and Other.
On Jul 20, 2020, the company (formerly known as Eldorado Resorts) completed $17-billion acquisition of Caesars Entertainment Corporation (formerly known as Caesars) pursuant to which the latter became the company’s wholly-owned subsidiary.
Caesars Entertainment has grown through development of new resorts, expansions and acquisitions. As of Jun 30, 2021, the company owns, leases or manages an aggregate of 52 domestic properties in 16 states, comprising approximately 3,200 table games, 46,200 hotel rooms, 55,300 slot machines, video lottery terminals (“VLTs”) and e-tables.
Meanwhile, the company entered into several agreements to divest certain properties and initiated plans to divest other assets, including non-core properties or divestitures required by regulatory agencies.
Certain properties, including Harrah’s Louisiana Downs, Caesars Southern Indiana, , and Caesars UK group (including Emerald Resort & Casino) met held for sale criteria. However, sales of these properties are expected to close within a year and that the properties are classified as discontinued operations.