As one of the biggest, most prominent casino operators in the United States, Caesars Entertainment Corporation owns and manages several iconic hotels and casinos in the states. The company emerged on the scene as The Promus Companies in 1990 while it changed the game to Harrah’s Entertainment in 1995. It was founded in Reno, Nevada.
Today, Caesars Entertainment Corporation operates over fifty properties in addition to operating seven golf courses under several different brands. Back in 2013, the company was the fourth biggest gaming firm in the world with staggering annual revenues that at the time exceeded $8.6 billion. The company is majority-owned by several private equity companies governed by Paulson and Co, Carl Icahn, TPG Capital, and Apollo Global Management.
Caesars and Eldorado Merger
Back in March 2019, it was revealed that Eldorado Resorts and Caesars Entertainment Corporation are exploring the possibility to merge the two firms. Several months later on the 23rd of June, Caesars Entertainment Corporation officially accepted Eldorado Resorts’ offered while the business deal details that Caesars will control fifty-three assets compared to twenty-six assets controlled by Eldorado Resorts.
On the 24th of June, it was reported that Eldorado and Caesars will definitely ordain a merger with an assortment of cash and stocks worth around $8.5 billion. Once the merger of the two companies is completed, six board members will come from Eldorado Resorts and five board members will come from Caesars Entertainment Corporation. On the 15th of November, shareholders of both companies voted for the merger which is expected to be completed in the first six months of the following year once all regulatory approvals and other conditions are in place.
Caesars Southern Indiana Facility
In the meantime, before the merger is completed, Caesars Entertainment Corporation focuses on its new facility located in Indiana. As reported, the company inaugurated its Caesars Southern Indiana facility worth around $90 million shortly after it closed down its Horseshoe Southern Indiana facility.
According to a report by The Courier-Journal news outlet, the facility’s debut was actually made possible by the legislation passage from 2015 which permits riverboat casinos in the state to move onto dry ground and remain in the business for as long as they do not stray from their original footprints extensively. The same newspaper also reported that the company behind the facility had run its popular Horseshoe Southern Indiana facility from the vessel Glory of Rome since 1998.
The company also held a closing party several days before relocating the complete collection of the casino’s one thousand and three hundred slot machines into a new onshore facility. The company’s Caesars Southern Indiana onshore facility has plenty of space with 110,000 square feet. In addition to offering an extensive collection of slot machines, this Las Vegas-style casino facility also has a rich portfolio of around seventy table games offering blackjack, craps, and poker games.
Moreover, the facility also features a sportsbook. Caesars Southern Indiana’s General Manager and Vice President Brad Seigel said to the news outlet that the one-story venue features a VIP lounge, several new restaurants, a tavern, private gaming areas as well as separate non-smoking gaming areas. He believes that thanks to its rich casino floor and additional amenities, the venue will become the very best spot in the area in dining, gaming, hospitality, and entertainment.