Caesars Entertainment

Caesars Entertainment, Inc. stands as one of the world's most diversified casino-entertainment providers, operating more than 50 properties across the United States under renowned brands including Caesars, Harrah's, Horseshoe, and Eldorado. Headquartered in Reno, Nevada, the company has evolved through strategic mergers and acquisitions to become a dominant force in the gaming industry, generating $11.24 billion in revenue in 2024. The company's portfolio spans traditional casino operations, online sports betting through Caesars Sportsbook, iGaming platforms, hospitality services, and the industry's largest loyalty program with over 65 million Caesars Rewards members.

The modern Caesars Entertainment was formed through the landmark $8.5 billion merger between Eldorado Resorts and Caesars Entertainment Corporation in July 2020, creating an unparalleled gaming and hospitality empire. This consolidation brought together two rich legacies: the Eldorado lineage dating back to 1973 in Reno, and the Caesars/Harrah's heritage beginning with Bill Harrah's first bingo club in 1937. Under the leadership of CEO Tom Reeg, who orchestrated the transformative merger, the company has strategically expanded its digital footprint while maintaining its position as a leader in traditional casino entertainment.

Caesars Entertainment operates 53 properties featuring 52,500 slot machines and 2,700 table games, employing approximately 54,000 team members who serve millions of guests annually. The company has aggressively pursued digital growth, with its online division generating $1.16 billion in net revenue in 2024, representing approximately 10% of total revenue. Major acquisitions include the $4 billion purchase of William Hill in 2021, which accelerated Caesars Sportsbook's expansion across legalized sports betting markets. Despite facing intense competition from FanDuel and DraftKings in the sports betting space, Caesars continues to innovate through technology acquisitions like ZeroFlucs in 2024, enhancing its in-play betting capabilities and same-game parlay offerings.

The company's strategic focus centers on three key pillars: optimizing its premier casino portfolio in Las Vegas and regional markets, scaling its digital sports betting and iGaming operations, and leveraging Caesars Rewards to drive customer loyalty and cross-platform engagement. With properties concentrated in high-value markets including Las Vegas (49% of 2024 EBITDAR) and regional destinations (46%), Caesars has positioned itself to benefit from the ongoing recovery in travel and entertainment spending while capitalizing on the rapid expansion of legalized online gambling across the United States. The company maintains a strong balance sheet with focused debt reduction efforts, targeting significant free cash flow generation to strengthen its financial position for future growth opportunities.