Caesars casino vegas
Caesars Entertainment
American gaming company
This article is about the Reno-based company that adopted this name in For other uses, see Caesars Entertainment (disambiguation).
Caesars Entertainment, Inc., formerly Eldorado Resorts, Inc., is an American hotel and casino entertainment company founded and based in Reno, Nevada that operates more than 50 properties.[3] Eldorado Resorts acquired Caesars Entertainment Corporation and changed its own name to Caesars Entertainment on July 20,
History[edit]
–[edit]
The company traces its history back to the development of the Eldorado Hotel in Reno, which was opened on May 24, , by a group of investors that included Don Carano and other members of the Carano family.[4][5][6]
On July 28, , the Eldorado opened the adjacent Silver Legacy Resort Casino in partnership with Circus Circus Enterprises.[7]
The Eldorado companies were reorganized in as Eldorado Resorts LLC in connection with a $million bond offering.[8][9]
–[edit]
In , the company took over the bankrupt Hollywood Casino Shreveport in Louisiana, buying a 76 percent stake in the property for $ million.[10] It was then rebranded as the Eldorado Casino Shreveport.[11]
In , Eldorado agreed to combine with the publicly traded MTR Gaming Group in a reverse merger.[12][13] The merger would add three racinos in Ohio, Pennsylvania, and West Virginia to Eldorado's portfolio.[14] The transaction closed on September 19, , creating Eldorado Resorts Inc. in its present form.[15] Eldorado's existing owners held percent of the combined company, and Gary Carano was appointed as its chairman and CEO.[15]
In November , Eldorado bought Circus Circus Reno and the 50% stake in the Silver Legacy that it did not already own from MGM Resorts International for $73 million.[16][17]
In May , Eldorado acquired Isle of Capri Casinos for $ billion in cash, stock, and assumed debt, adding twelve casinos to its holdings.[18]
In August , Eldorado bought the Grand Victoria Casino in Illinois for $ million.[19][20] Two months later, Eldorado acquired the operating business of Tropicana Entertainment for $ million, adding seven casinos to its portfolio. Gaming and Leisure Properties simultaneously purchased the real estate of five of the casinos and leased them to Eldorado for a total of $88 million per year.[21][22][23] Additionally, Eldorado paid $ million for the real estate underlying Tropicana's Lumière Place casino in Missouri.[21]
In early , Eldorado sold Presque Isle Downs and the operations of Lady Luck Casino Nemacolin to Churchill Downs, Inc. for a total of $ million.[24][25]
In March , it was reported that Eldorado was discussing a merger with Caesars Entertainment.[26] In June , Caesars accepted Eldorado's offer to purchase Caesars for $18 billion in stock and cash.[27] Eldorado operated 26 assets compared to Caesars, which controlled [28] Eldorado would change its name to Caesars Entertainment after the completion of the acquisition, and the companies' loyalty programs would be combined under the Caesars Rewards brand. Eldorado's key executives would be retained.[citation needed] The deal was expected to be completed in the middle of [29]
–present[edit]
With the Caesars acquisition pending, Eldorado sold three properties (Lady Luck Casino Caruthersville, Mountaineer Casino Racetrack and Resort and Isle Casino Cape Girardeau) to Vici Properties and Century Casinos for a total of $ million, with Vici acquiring the real estate assets and Century acquiring the operating businesses.[30] Eldorado also sold Lady Luck Casino Vicksburg and Isle of Capri Casino Kansas City to Twin River Worldwide Holdings for $ million.[31] The deals were intended to reduce Eldorado's debt level and avert potential antitrust issues in Missouri, where Eldorado and Caesars together owned 6 of the state's 13 casinos.[32]
In April , Eldorado agreed to sell Eldorado Shreveport and the MontBleu casino in Lake Tahoe to Twin River.[33][34][35]
On June 26, , the Federal Trade Commission approved Eldorado's acquisition of Caesars.[36] The transaction was completed on July 20 for $ billion in cash and stock.[37][38]
In April , the company acquired the sports betting company William Hill for $ billion.[39][40] Most of William Hill's offerings in the U.S. would be rebranded as Caesars Sportsbook.[41] In September , Caesars agreed to sell William Hill's European business to Holdings for $3 billion.[42]
In Indiana, the company was required to sell three of its properties as a condition of approval of the Caesars merger. In , the operating businesses of Tropicana Evansville and Caesars Southern Indiana were sold to Bally's Corporation (the former Twin River Worldwide Holdings) and the Eastern Band of Cherokee Indians, respectively, for a total of $ million.[43][44]
In July , Caesars sold its casinos in Europe and Africa (the former London Clubs International) to an affiliate of Silver Point Capital.[45][46]
In February , Caesars Entertainment announced a multi-year deal which named the organisation as the official sportsbook partner of the NBA's Cleveland Cavaliers.[47] The company opened a 10, square foot retail sportsbook at Rocket Mortgage FieldHouse, the home of the Cavaliers.[48] In November , Caesars was added to the list of "Best Employers for Veterans" by Forbes.[49][50]
They also offer mobile gambling options.[51]
List of properties[edit]
The properties owned and operated by Caesars Entertainment are:[52]
Western United States[edit]
- Circus Circus Reno — Reno, Nevada
- Eldorado Resort Casino — Reno, Nevada
- Harrah's Ak-Chin — Maricopa, Arizona §
- Harrah's Lake Tahoe – Stateline, Nevada §
- Harrah's Laughlin — Laughlin, Nevada §
- Harrah's Southern California — Valley Center, California §
- Harveys Lake Tahoe – Stateline, Nevada §
- Horseshoe Black Hawk — Black Hawk, Colorado
- Lady Luck Casino Black Hawk — Black Hawk, Colorado
- Silver Legacy Resort & Casino — Reno, Nevada
- Tropicana Laughlin — Laughlin, Nevada §
Las Vegas Strip[edit]
- Caesars Forum — Paradise, Nevada §
- Caesars Palace — Paradise, Nevada §
- The Cromwell — Paradise, Nevada
- Flamingo Las Vegas — Paradise, Nevada
- Harrah's Las Vegas – Paradise, Nevada §
- Horseshoe Las Vegas — Paradise, Nevada
- The Linq — Paradise, Nevada
- Paris Las Vegas — Paradise, Nevada
- Planet Hollywood Las Vegas — Paradise, Nevada
Midwest[edit]
- Caesars Windsor — Windsor, Ontario §
- Eldorado Gaming Scioto Downs — Columbus, Ohio
- Grand Victoria Casino Elgin — Elgin, Illinois
- Isle Casino Hotel Bettendorf — Bettendorf, Iowa
- Isle Casino Hotel Waterloo — Waterloo, Iowa
- Harrah's Council Bluffs – Council Bluffs, Iowa §
- Harrah's Hoosier Park — Anderson, Indiana
- Harrah's Joliet – Joliet, Illinois §
- Harrah's Metropolis – Metropolis, Illinois §
- Harrah's North Kansas City – North Kansas City, Missouri §
- Horseshoe Council Bluffs – Council Bluffs, Iowa §
- Horseshoe Hammond – Hammond, Indiana §
- Horseshoe Indianapolis — Shelbyville, Indiana
- Horseshoe St. Louis — St. Louis, Missouri §
South[edit]
- Harrah's Gulf Coast – Biloxi, Mississippi §
- Harrah's New Orleans — New Orleans, Louisiana §
- Harrah's Pompano Beach — Pompano Beach, Florida
- Horseshoe Bossier City – Bossier City, Louisiana §
- Horseshoe Lake Charles — Lake Charles, Louisiana
- Horseshoe Tunica – Robinsonville, Mississippi §
- Isle of Capri Casino Hotel Boonville — Boonville, Missouri
- Isle of Capri Casino Hotel Lula — Lula, Mississippi
- Trop Casino Greenville — Greenville, Mississippi §
Atlantic[edit]
§ Properties are operated by the company under a lease or a management agreement:
Former properties[edit]
- Bally's Atlantic City — Atlantic City, New Jersey
- Belle of Baton Rouge — Baton Rouge, Louisiana[53]
- Caesars Southern Indiana — Elizabeth, Indiana
- Eldorado Shreveport — Shreveport, Louisiana[54]
- Harrah's Louisiana Downs – Bossier City, Louisiana[55]
- Isle Casino Cape Girardeau — Cape Girardeau, Missouri
- Isle of Capri Casino Kansas City — Kansas City, Missouri
- Lady Luck Casino Caruthersville — Caruthersville, Missouri
- Lady Luck Casino Nemacolin — Farmington, Pennsylvania
- Lady Luck Casino Vicksburg — Vicksburg, Mississippi
- London Clubs International (12 casinos in the United Kingdom, Egypt, and South Africa)
- MontBleu Casino Resort — Stateline, Nevada
- Mountaineer Casino Racetrack & Resort — Chester, West Virginia
- Presque Isle Downs & Casino — Summit Township, Pennsylvania
- Rio All Suite Hotel and Casino — Paradise, Nevada
- Tropicana Evansville — Evansville, Indiana
References[edit]
- ^ abcdForm K: Annual Report (Report). Caesars Entertainment. February 20, pp.&#;64–66 &#; via EDGAR.
- ^Form K: Annual Report (Report). Caesars Entertainment. February 20, p.&#;10 &#; via EDGAR.
- ^"Properties". Eldorado Resorts. Archived from the original on Retrieved
- ^Form K: Annual Report (Report). Eldorado Resorts. March 1, p.&#;1 &#; via EDGAR.
- ^"Eldorado Hotel granted license". Nevada State Journal. UPI. May 25, &#; via thisisnl.nl
- ^"Planned for downtown location: $ million Reno luxury hotel complex". Reno Evening Gazette. July 17, &#; via thisisnl.nl
- ^Don Cox (July 28, ). "It's Legacy's big day". Reno Gazette-Journal &#; via thisisnl.nl
- ^Form S Registration of Securities (Report). Eldorado Resorts LLC. September 12, p.&#;4 &#; via EDGAR.
- ^John Stearns (August 21, ). "Eldorado raises $M". Reno Gazette-Journal &#; via thisisnl.nl
- ^John Hill (July 20, ). "Eldorado resorts takes over Hollywood casino". The News-Star. Monroe, LA &#; via thisisnl.nl
- ^Cristina Rodriguez (October 26, ). "Eldorado Casino Shreveport shuts to begin changeover". Reno Gazette-Journal &#; via thisisnl.nl
- ^"MTR Gaming, Eldorado Resorts agree to merge". Las Vegas Review-Journal. AP. September 9, Retrieved
- ^Form B3: Prospectus (Report). MTR Gaming Group. June 16, p.&#; &#; via EDGAR.
- ^Thomas Ott (September 11, ). "Presque Isle owner, hurt by casinos in Ohio, OKs merger". The Plain Dealer. Cleveland, OH &#; via NewsBank.
- ^ abJohn Guerriero (September 20, ). "MTR Gaming merger with Eldorado now official". Erie Times-News. Retrieved
- ^Stutz, Howard (November 24, ). "Eldorado completes $M purchase of MGM's Reno properties". Las Vegas Review-Journal. Retrieved November 24,
- ^Higdon, Mike (November 24, ). "It's official: Eldorado Resorts buys Circus Circus and Silver Legacy". Reno Gazette-Journal. Retrieved November 24,
- ^Diana Barr (May 2, ). "Eldorado completes Isle of Capri buyout, names Alberici exec to board". St. Louis Business Journal. Retrieved
- ^Corilyn Shropshire (April 16, ). "Elgin's Grand Victoria Casino to sell for $ million". Chicago Tribune. Retrieved
- ^"Eldorado Resorts completes acquisition of Grand Victoria Casino" (Press release). Eldorado Resorts. August 7, Retrieved &#; via Business Wire.
- ^ ab"Eldorado Resorts completes Tropicana Entertainment acquisition" (Press release). Eldorado Resorts. October 1, Retrieved &#; via BusinessWire.
- ^"Gaming and Leisure Properties, Inc. completes previously announced acquisition of the real estate assets of Tropicana Entertainment" (Press release). Gaming and Leisure Properties. October 1, Retrieved
- ^Sam Karlin (October 5, ). "Belle of Baton Rouge changes hands for $18 million as part of Tropicana acquisition". The Advocate. Baton Rouge, LA. Retrieved
- ^"Churchill Downs completes purchase of Presque Isle Downs & Casino". Erie Times-News. January 12, Retrieved
- ^Billy Kobin (March 9, ). "Churchill Downs buys Lady Luck Casino Nemacolin in Pennsylvania". The Courier-Journal. Louisville, KY. Retrieved
- ^Roumeliotis, Greg (Mar 17, ). "EXCLUSIVE-Eldorado Resorts, Caesars explore merger". CNBC. Archived from the original on June 26, Retrieved March 18,
- ^Roumeliotis, Greg (June 23, ). "Eldorado Resorts clinches $18 billion cash and stock deal for Caesars: sources". Reuters. Retrieved June 23,
- ^Hidalgo, Jason (June 23, ). "Report: Eldorado Resorts merging with Caesars in $18 billion deal". Reno Gazette-Journal. Retrieved June 23,
- ^"Stockholders Approve Eldorado's Acquisition of Caesars". thisisnl.nl. Retrieved 16 November
- ^Bailey Schulz (December 6, ). "Eldorado Resorts closes 3 property sales for $M". Las Vegas Review-Journal. Retrieved
- ^Bailey Schulz (July 2, ). "Eldorado sells 2 properties ahead of Caesars merger". Las Vegas Review-Journal. Retrieved
- ^Brendan Crowley (November 18, ). "IOC says no changes expected in Boonville after owner buys Caesars". Boonville Daily News. Retrieved
- ^Adelman, Jacob. "Bally's in Atlantic City to be acquired by Rhode Island-based gaming group Twin River". thisisnl.nl. Retrieved
- ^Staff. "Eldorado Resorts selling MontBleu casino at Stateline". thisisnl.nl. Retrieved
- ^Northern Nevada Business Weekly. "Eldorado Resorts to sell Tahoe's MontBleu, Louisiana casino for $ million". thisisnl.nl. Retrieved
- ^"Federal Trade Commission clears Eldorado, Caesars deal". Las Vegas Review-Journal. Retrieved
- ^Katherine Sayre (July 20, ). "Caesars and Eldorado close $ billion merger". Wall Street Journal. Retrieved
- ^"Eldorado Resorts to buy Caesars Entertainment for about $ billion". CNBC. Retrieved
- ^Tanishaa Nadkar (September 30, ). "Caesars to buy William Hill for $ billion in sports-betting drive". Reuters. Retrieved
- ^"Caesars Entertainment announces completion of William Hill PLC acquisition" (Press release). &#; via MarketWatch.
- ^Colton Lochhead (August 2, ). "Caesars Entertainment reveals sports betting rebranding move". Las Vegas Review-Journal. Retrieved
- ^Colton Lochhead (September 9, ). "Caesars selling William Hill non-U.S. assets in $3B deal". Las Vegas Review-Journal. Retrieved
- ^"Bally's Corporation completes acquisition of Tropicana Evansville casino" (Press release). Bally's Corporation. June 4, Retrieved
- ^Ben Tobin (September 3, ). "Caesars Southern Indiana casino officially under new ownership after closing of $M deal". The Courier-Journal. Louisville, KY. Retrieved September 3,
- ^"Metropolitan Gaming announces completion of acquisition of Caesars UK and Africa assets" (Press release). Metropolitan Gaming. August 4, Retrieved &#; via PR Newswire.
- ^Robert Fletcher (August 5, ). "Metropolitan Gaming acquires Caesars' Europe and Africa casino businesses". iGamingBusiness. Retrieved
- ^Marc Bona, cleveland com (). "Cleveland Cavaliers, Caesars Entertainment ink deal for sports betting venue in Rocket Mortgage FieldHouse". cleveland. Retrieved
- ^"Caesars announces sports betting partnership with Cleveland Cavaliers". IGaming Business. 25 February Retrieved 30 March
- ^Horner, Charlie (). "Caesars Entertainment honored for veteran employer status - SBC Americas". Retrieved
- ^BRIER", "ELISABETH. "America's Best Employers For Veterans ". Forbes. Retrieved
- ^Yakowicz, Will. "Caesars, DraftKings, FanDuel To Launch New York's $1 Billion Mobile Sports Betting Market". Forbes. Retrieved
- ^Form K: Annual Report (Report). Caesars Entertainment. February 24, pp.&#;27–28 &#; via EDGAR.
- ^Timothy Boone (May 5, ). "Belle of Baton Rouge finalizes sale, now both downtown riverboat casinos share an owner". The Advocate. Baton Rouge, LA. Retrieved
- ^"Shreveport's Eldorado Resort Casino gets new owners". KSLA-TV. December 23, Retrieved
- ^"Caesars Entertainment and Vici Properties complete sale of Harrah's Louisiana Downs" (Press release). Caesars Entertainment. November 1, Retrieved &#; via PR Newswire.