Vol. 5, No. 5, May 2008
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The Name Game
Harrah’s Entertainment, Inc. has announced that it will change its name to Caesars Entertainment, pending regulatory approvals.
In 2005, Caesars Entertainment merged with Harrah’s, creating the world’s largest gaming operator.
Harrah’s officials say the company, which remains the namesake of its founder, gaming legend Bill Harrah, will make the change to capitalize on the international name recognition enjoyed by the Caesars brand, and “to appeal to customers attracted by its connotation of luxury, opulence and world-renowned entertainment, dining and shopping options.”
“The name Caesars Entertainment Corporation will provide our company with greater prestige and help attract strategic business partners,” said Gary Loveman, Harrah’s chairman, president and chief executive officer.
The Harrah’s name will continue to be one of the company’s three primary casino brands, along with Caesars and Horseshoe.
The name change followed the announcement of several key additions to Harrah’s board of directors, including NFL Hall of Fame receiver and sports broadcaster Lynn Swann. Also added to the board: Charles Atwood, vice chairman of the company since 2006; Jean Jackson, founder and chief executive officer of private investment company MSP Capital; and Christopher Williams, chairman and CEO of investment bank Williams Capital Group.
