Harrah’s Entertainment to Change Name for 2011
It is official—Harrah’s Entertainment is changing its name. The casino company of course is a giant in the world and has over the years remained on the top of the market. Harrah’s brand is one of the most recognizable in the market today with various locations all around the world. The company just announced that it is going to raise $610.9 million in public offerings and change its corporation name to Caesar’s Entertainment. This is going to open up the door to over 31 million common stocks for the market that are each priced on the London Stock Market at $15 to $17 in value. In addition, there will be over 4.5 million underwriters who will cover any over-estimations of the allocation the company’s directors have made. Harrah’s was privatized in January of 2008 and is now opening the door to change. Although the name change has been on the table for a few years now, it is first happening at this time thanks to the company’s owners and operators.
Currently Harrah’s is at the top of the casino operator list and has over fifty different properties throughout the world. It spans over six countries and owns the successful World Series of Poker event. Overall Harrah’s is number one and for that reason this change in name is considered to be somewhat out of the blue in terms of business strategy. Still, part of the reason for a change is that the company is so large and the global market is now open to them. Its owners Leon Black and David Bonderman both believe that the change in name will signify a change in business structure. It will open the door for more gambling possibilities and a new market share. The company will continue to expand globally and change its own market to rebuild its business. It is one of the biggest companies in the world and now you can expect it to gain even more steam as a company due to its change in business structure. The world of gambling is built on diversity and Harrah’s Entertainment, or Caesar’s Entertainment, will continue to grow that variation successfully throughout 2011 and beyond.
Tags: change, Harrah's. Caesar's, name, owner
