Caesars Entertainment is a casino company based in Reno, Nevada, that runs more than 50 resorts and casinos in the United States and Canada under brands including Caesars, Harrah’s, Horseshoe, Tropicana and Eldorado. It also runs Caesars Sportsbook and the Caesars Rewards loyalty program. In 2026 the company agreed to be sold to Tilman Fertitta’s Fertitta Entertainment in an all-cash deal valued at about $17.6 billion including debt, and shareholders approved the sale in September 2026.

Caesars Entertainment at a Glance

Headquarters	Reno, Nevada
CEO	Tom Reeg
Properties	More than 50 resorts and casinos
Main brands	Caesars, Harrah’s, Horseshoe, Tropicana, Eldorado
Loyalty program	Caesars Rewards
Revenue	$11.2 billion (2024)
Ownership	Publicly traded; sale to Fertitta Entertainment approved by shareholders in September 2026, pending gaming and antitrust approvals
Last checked	November 2026

Caesars runs casinos rather than building games. For the companies that make the machines on its floors, see our guide to slot machine makers, and for other operators see our casino owners section.

The Harrah’s Years

The company traces one side of its history to Bill Harrah, who opened a small bingo parlor in Reno, Nevada, on October 29, 1937. He expanded to Stateline at Lake Tahoe in 1955. Harrah’s went public in 1971, and in 1973 it became the first casino company listed on the New York Stock Exchange. Bill Harrah died in 1978, and in February 1980 Holiday Inns bought the company for $300 million.

In 1990, Holiday Inns’ hotel business was sold and the casinos went into a new company, The Promus Companies. In 1995 Promus spun off its non-gaming hotels and renamed itself Harrah’s Entertainment. Over the next decade it grew with riverboat and tribal casinos across the middle of the country, bought the World Series of Poker, and on September 4, 1997 launched Total Gold, the first loyalty program that let players earn and redeem across all of a company’s casinos. It was renamed Total Rewards in 2000 and Caesars Rewards in 2019.

Buying Caesars, Buyout and Bankruptcy

In 2005 Harrah’s Entertainment bought Caesars Entertainment, Inc., owner of Caesars Palace, for $10.4 billion. Private equity firms Apollo and TPG then took the company private in a buyout agreed in December 2006 and closed in January 2008, loading it with debt just before the financial crisis. Harrah’s Entertainment was renamed Caesars Entertainment Corporation on November 23, 2010, and returned to the stock market with a Nasdaq listing on February 8, 2012. On January 15, 2015, its main operating unit, Caesars Entertainment Operating Company, filed for Chapter 11 bankruptcy.

The Eldorado Merger

The other side of today’s company is Eldorado Resorts. It grew from the Eldorado Hotel in Reno, opened in May 1973 by investors including the Carano family. Eldorado expanded through acquisitions, including the operating business of Tropicana Entertainment for $640 million in 2018. On July 20, 2020, Eldorado completed its purchase of Caesars Entertainment and took the Caesars name, with headquarters in Reno.

Recent Changes

Sports betting: Caesars bought William Hill in April 2021 for $3.7 billion and rebranded most of its US sportsbooks as Caesars Sportsbook. William Hill’s European business was sold to 888 Holdings.
Property sales: in 2021 Caesars sold the operating businesses of Tropicana Evansville and Caesars Southern Indiana, sold its casinos in Europe and Africa (the former London Clubs International), and completed the sale of Harrah’s Louisiana Downs.
World Series of Poker: in 2024 Caesars sold the WSOP brand to NSUS Group for $500 million. The main WSOP series stays at Caesars casinos in Las Vegas for 20 years under the deal.
Online: Caesars runs sportsbook and online casino products in states where they are legal. For the state of legal play, see our US gambling guide.

The 2026 Sale to Fertitta Entertainment

In March 2026, Tilman Fertitta, owner of Golden Nugget, entered talks to buy Caesars. On May 28, 2026, Fertitta Entertainment announced an agreement to acquire the company for $31 a share in cash, about $5.7 billion in equity plus roughly $12 billion of assumed debt. In July, Carl Icahn made a non-binding proposal of $34 a share, but after talks Caesars’ board stayed with the Fertitta deal, citing financing certainty. Shareholders approved the sale at a special meeting on September 22, 2026. It still needs federal antitrust clearance and gaming approvals in every jurisdiction where Caesars operates, a process the buyer estimated would take nine to ten months.

Caesars Entertainment Properties

Caesars runs more than 50 properties. Some are owned, others are leased or managed for partners such as tribal nations. The main ones by area:

Las Vegas

See our Las Vegas casino guide for more on the Strip.

Reno, Lake Tahoe and Laughlin

Eldorado Resort Casino, Silver Legacy and Circus Circus Reno
Harrah’s Lake Tahoe and Caesars Republic Lake Tahoe
Harrah’s Laughlin

Atlantic City

Caesars Atlantic City
Harrah’s Atlantic City
Tropicana Atlantic City

Managed Tribal Casinos

Harrah’s Cherokee and Harrah’s Cherokee Valley River in North Carolina
Harrah’s Resort Southern California
Harrah’s Ak-Chin in Arizona

Regional Casinos

Mississippi: Harrah’s Gulf Coast and Horseshoe Tunica
Louisiana: Caesars New Orleans, Horseshoe Bossier City and Horseshoe Lake Charles
Indiana: Horseshoe Hammond, Horseshoe Indianapolis and Harrah’s Hoosier Park
Illinois: Harrah’s Joliet and Harrah’s Metropolis
Iowa: Harrah’s Council Bluffs and Horseshoe Council Bluffs
Missouri: Horseshoe St. Louis and Harrah’s North Kansas City
Pennsylvania: Harrah’s Philadelphia
Colorado: Horseshoe Black Hawk
Virginia: Caesars Virginia in Danville

Canada

Caesars Windsor in Ontario, managed by Caesars

Caesars Entertainment FAQ

Who owns Caesars Entertainment?

Caesars is a public company. In 2026 it agreed to be sold to Fertitta Entertainment for $31 a share in cash, and shareholders approved the deal in September 2026. The sale still needs antitrust and gaming approvals.

Where is Caesars Entertainment based?

Reno, Nevada, where Eldorado Resorts started before it bought Caesars in 2020.

What is the Caesars loyalty program called?

Caesars Rewards, which began as Total Gold in 1997 and was called Total Rewards from 2000 until 2019. See our guide to Caesars Rewards Diamond status.

Does Caesars still own the World Series of Poker?

No. It sold the WSOP brand to NSUS Group in 2024, but the main series is still held at Caesars casinos in Las Vegas.

Please gamble responsibly. If you need help, call or text the National Problem Gambling Helpline at 1-800-MY-RESET.