About Caesars Entertainment Crystal Bay
Formerly known as The Promus Companies and Harrah’s Entertainment, the Caesars Entertainment Corporation was founded all the way back in 1937. It started when William F. Harrah opened a small bingo parlor in Reno, Nevada which was extended to Stateline, Nevada where he also formed Harrah’s Lake Tahoe. In 1972, the company made its way into the American Stock Exchange, making it the first casino group to ever land a spot on the New York Stock Exchange. In 1980, Holiday Inn took over Harrah’s Inc. for $300 million. This was the best offer the original company received after William F. Harrah’s death in 1978.
The modern-day company now going by the name Caesars Entertainment was created in the 1990 as The Promus Companies. In 1995, Promus decided to continue the growth of Harrah’s Entertainment to add value to their businesses. In 2005, Harrah’s acquired Caesars Entertainment, Inc. for $10.4B marking their biggest expansion. At this point, the CEO of Harrah’s was Gary Loveman. He was the leader of the brand until 2015 and he experienced the privatization of the company in this period. In 2010, the whole corporation was renamed as Caesars Entertainment Corporation still under his reign.
