The company's background can be traced to October 29, 1937, when Bill Harrah opened a small bingo parlor in Reno, Nevada, a predecessor to Harrah's Reno. Caesars's largest operating unit filed for Chapter 11 bankruptcy protection in 2015, which led to the foundation of Vici Properties as a result. It was acquired in 2020 by Eldorado Resorts, which then changed its own name to Caesars Entertainment.Īt the end of its existence, Caesars was a public company, majority-owned by a group of private equity firms led by Apollo Global Management, TPG Capital, and Paulson & Co. In 2013, it was the fourth-largest gambling company in the world, with annual revenues of $8.6 billion. Harrah's Entertainment (later named Caesars Entertainment Corporation, previously The Promus Companies) was an American casino and hotel company founded in Reno, Nevada, and based in Paradise, Nevada, that operated over 50 properties and seven golf courses under several brands. For other uses, see Caesars Entertainment (disambiguation). For the company currently known as Caesars Entertainment, see Caesars Entertainment. "Caesars Entertainment Corporation" redirects here.
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Only two of the nine casinos had higher operating profits in 2022 than in 2021: Hard Rock earned over $128 million, up nearly 20% over the previous year, and Ocean earned $96.2 million, up 5.5%.īally’s shrunk its operating loss dramatically last year, losing $1.8 million compared to $13.1 million a year earlier.īorgata had an operating profit of $140.2 million, down 19.4% Caesars earned $60.4 million, down 2.7% Golden Nugget was down a fraction at $30.6 million Harrah’s earned $89.3 million, down over 10% Resorts earned $21 million, down nearly 24% and Tropicana earned nearly $110 million, down 7.6%.Īmong internet-only entities, Caesars Interactive Entertainment NJ earned $32.7 million, nearly doubling its earnings from a year earlier, and Resorts Digital, the online arm of Resorts Casino, earned $15.4 million, up 2.8%.Ĭompared to pre-pandemic 2019, only four casinos earned more in 2022: Hard Rock, Ocean, Resorts and Tropicana, although Harrah’s came close to breaking even on this comparison. 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