In order to take advantage of ratified gambling legislation, one of the biggest casino operators in the United States, Caesars Entertainment Corporation revealed that the company wants to launch sports betting services at five facilities located in the state of Indiana. As it was reported, the very first service of this is expected to start on Sunday.
The Las Vegas-based company in its official press releases stated that it plans on opening a sportsbook within its popular Indiana Grand Racing and Casino facility this week before introducing similar sports betting service within its Harrah’s Hoosier Park Racing and Casino in days to come. Caesars Entertainment Corporation was founded eighty-one years ago in 1937 in Reno, Nevada.
The company currently operates and owns more than fifty properties including several gold courses under several brands. Back in 2013, Caesars Entertainment Limited was the fourth-biggest company of this kind in the world with remarkable annual revenues of more than $8.5 billion.
Rich History Spanning Over Eighty Years
Everything started back on the 29th of October, eighty-one years when Bill Harrah established a small bingo room in Reno. This small bingo parlor is actually a predecessor to popular Harrah’s Reno. Back in 1955, this back then the small company expanded to Stateline on the Lake Tahoe shore where Bill Harrah opened Harrah’s Lake Tahoe facility. The company appeared on the American Stock Exchange for the first time in 1973 which made Bill Harrah’s company the very first gambling company to be listed on the biggest stock exchange.
In February of 1980, the company was acquired by Holiday Inn for around $300 million. The company that we know today as Caesars Entertainment was established back in 1980 by its former name The Promus Companies. Following a massive increase in the growth of gambling markets back in 80s and early 90s, Caesars Entertainment Corporation opened a number of riverboat casinos, hotel and casino resorts including Harrah’s Shreveport, Harrah’s Ak-Chin, Harrah’s Central City, Harrah’s Black Hawk, Harrah’s Tunica, Harrah’s Joliet and Harrah’s Vicksburg.
Before purchasing Caesars Entertainment Inc. in 2005, the company was renamed to Harrah’s Entertainment while continuing its remarkable gaming expansion by opening Harrah’s Prairie Band, SkyCity Auckland, as well as by acquiring the Showboat Inc., Players International, Rio All-Suite Hotel and Casino and several other companies. The company’s biggest expansion came in 2005 with acquiring Caesars Entertainment for more than $10 billion.
Purchasing the Company Behind Indiana-Based Facilities
As it was reported recently, the company invested around $1.7 billion in just several months in order to acquire the company which is behind those two Indiana-based gambling venues. It was also reported that Caesars Entertainment Limited was the very first company to actually capitalize on the latest gambling legislation which was signed not so long ago by the state’s Governor Eric Holcomb.
This legislation in particular legalized all sorts of sports betting activities in May while the very first sports betting platforms can start offering their services as of the 1st of September. Caesars Entertainment Limited hopes on attracting new customers with its sports betting services offered within Indiana Grand Racing and Casino including offering a large selection of sports such as golf, basketball, and baseball among others. Besides adding more sports betting activities, the company also plans on adding new dining areas with restaurants.