With its focus on domestic markets, Caesars is losing ground to competitors such as Las Vegas Sands and Wynn Resorts, companies that have been busy developing properties in the fast-growing Asian market of Macau, China. These numbers are significantly more modest than its 2010 plans, when the firm had hoped to raise up to $532 million. In the 2012 offering, Caesars ended up selling only 1.4% of itself in one of the smallest IPOs in recent history. The company is using the proceeds for general corporate purpose and to make a dent in its long-term debt, worth a whopping $19.6 billion. ft. of casino space and some 43,000 hotel rooms. Among its many locations on the Vegas Strip are Caesars Palace, Paris Las Vegas, and Planet Hollywood. The company went public in 2012, more than a year after it cancelled a previous IPO.Ĭaesars Entertainment raised only around $16.3 million in its 2012 IPO, a small fraction of the $50 million it had hoped to gain.
Altogether its facilities - including hotels, dockside and riverboat casinos, and Native American gaming establishments - boast more than 3 million sq.
The firm owns and/or operates more than 50 casinos (under such names as Harrah's, Horseshoe, and Rio) in 12 US states and seven countries. Caesars Entertainment Corporation (formerly Harrah's Entertainment) likes to spread its bets.
