made its initial public offering in 1971. In 1955, he expanded to Stateline, Nevada, on the south shore of Lake Tahoe, where he would eventually open Harrah's Lake Tahoe. 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. As properties change hands, I’ll be sure to revisit this rundown to ensure it stays up to date.'Caesars Entertainment Corporation' redirects here. The operator runs the day-to-day of the resort, dictates the loyalty program, and will be who you interact with as a guest.īelow, I’ll clearly define who the current owner of each Strip resort’s physical assets and operations are. Since then, they’ve gone on to buy a good chunk of the real estate along the Strip, collecting rent from the operators.įrom the customer’s perspective, the only entity that matters is the owner of the operations.

Not only do properties change hands frequently, but there are more and more situations where a Real Estate Investment Trust (or REIT) owns the physical property while a separate entity leases the building and owns the operations of the resort.Īs you’ll see, the most common REIT landlord in Las Vegas is VICI Properties, which was formed in 2017 as a spinoff of Caesars Entertainment. Nailing down who owns each casino in Las Vegas becomes a more challenging and confusing exercise by the day.

Which casinos are owned by caesars