Harrah's Entertainment Considers Corporate Name Change

Harrah's Entertainment (NYSE: HET), which is now trading around $65 per share, down from over $80 dollars per share back in May, is contemplating the benefits of changing their corporate name. The idea is to change the official name of the company to a more recognizable brand, possibly Ceasars.

Harrah's Entertainment is in the casino-entertainment business, owning close to 40 casinos in the US. They operate facilities primarily under the name Harrah's, Caesars or Horseshoe branding. The Las Vegas based casino gambling business includes 20 land-based casinos, 11 riverboats, 4 Indian tribe reservation casinos, two casinos on cruise ships, a greyhound-racing/casino, and a thoroughbred racetrack/casino.

Harrah's Entertainment executives have made it clear that no one should expect an announcement about the change in name until at least mid-December, sources say. At $65 per share, Harrah's has not been this enticing to buy since the stock market crash of 2001.

September 24, 2006
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com    Previous Page | Internet Gambling | Top Online Casinos | Submit News!