Harrah's to be Renamed Caesars Entertainment
LAS VEGAS, NV, April 10, 2008. Harrah's Entertainment, Inc. said today its board of directors has approved a plan to change the company's name to Caesars Entertainment Corporation, pending regulatory approvals.
The name change is designed to capitalize on the high international name recognition enjoyed by the Caesars brand and to appeal to customers attracted by its connotation of luxury, opulence and world-renowned entertainment, dining and shopping options.
"Adoption of the name Caesars Entertainment Corporation will provide our company with greater prestige and help attract strategic business partners as we pursue expansion opportunities in new jurisdictions," said Gary Loveman, Harrah's chairman, president and chief executive officer. "The change also reflects our evolution into a full-service entertainment company that offers a rich range of gaming and non-gaming amenities to our guests."
The Harrah's name will continue to be one of the company's three primary casino brands, along with Caesars and Horseshoe. Loveman said the name change will not alter the company's culture or its adherence to a Code of Commitment that governs its relationships with employees, customers and communities.
"Our employees will remain dedicated to the innovation, customer-service excellence and corporate citizenship that have been hallmarks of our company for decades," Loveman said. "But this re-branding of the corporate name can open exciting new opportunities for us in the future."
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