Harrah's
Entertainment
World's largest casino
operator.
Headquarters:
One Harrah's Court
Las Vegas, NV 89119
Employees: 85,000
CEO: Gary Loveman
Stock Symbol: HET
Website:
http://www.harrahs.com
Career Site
Harrah's Entertainment is the world's largest
casino operator. It owns or manages casinos 48 casinos primarily
in the United States and United Kingdom.
The company agreed to be purchased by private
equity firms Texas Pacific Group and Apollo Management for $27.8
billion. The deal is awaiting approval and the company will be
privately held when the deal closes this year.
Harrah's best-known properties include
Caesar's Palace, Bally's, Harrah's, Paris and Rio's in Las Vegas.
It also owns Caesar's, Harrah's, Bally's and Showboat casinos
in Atlantic City. Other casinos are in: Biloxi, MS; Tunica, MS;
St. Louis, MO; Council Bluffs, IA; and Joliet, IL.
The company's properties total over 3 million
feet of gaming space and 40,000 hotel rooms.
In December 2006, Harrah's completed the
acquisition of London Clubs, which operates seven casinos in
the United Kingdom, two in Egypt and one in South Africa, and
has four others under development in the UK.
On October 2, Harrah's acquired the Barbary
Coast, giving the company control of three of the four corners
of Las Vegas Boulevard and Flamingo Road. Coupled with previously
completed land-purchase agreements, the Barbary Coast transaction
will give Harrah's control of about 350 acres at or near the
center of the Las Vegas Strip. The casino is now known as Bill's
Gambling Hall and Saloon.
In 2006, the company reported record revenues
of $9.6 billion and net income of $535.8 million.
History
The company was originally founded in 1937
when Bill Harrah opened his first bingo parlor in Reno, NV. Harrah
would soon open new casinos in Lake Tahoe and Reno. In 1973,
Harrah's became the first publicly-traded casino company on the
New York Stock Exchange. Bill Harrah died in 1978.
In 1980, Holiday Inns would acquire Harrah's
and the company would build its first hotel in Atlantic City
called Harrah's Marina. The casinos and hotels would eventually
become part of the Promus Companies in 1990. The Harrah's name
was restored in June 1995 and renamed Harrah's Entertainment.
In 1997, the company spent $200 million
on renovating and expanding Harrah's Las Vegas. It acquired the
Rio Hotel & Casino in 1999 to give the company a true Vegas
resort and off-strip property.
In 2005, Harrah's acquired Caesar's Entertainment
for $9.4 billion to make it the world's leading casino company.
Harrah's also purchased Imperial Palace, a casino on the Las
Vegas Strip, for $370 million.
Benefits
Harrah's offers 401K, Medical, Dental,
& Vision plan options as well as on-site resources at many
locations such as Health & Wellness Centers, Mobile Dentistry,
and Health Educators.
Harrah's has recently partnered with Whole
Health Management to open on-site clinics in: Las Vegas, NV,
Atlantic City, NJ, Lake Tahoe, NV, New Orleans, LA and Tunica,
MS. Staffed with a medical doctor, nurse practitioner and registered
nurses, each of the centers offer high-quality primary care services,
including treatment of infections and minor injuries, immunizations,
allergy and flu shots, blood work and more.
Programs recognize and honor employees
for superior performance in areas critical to the company's success:
- Superior Guest Service
- Superior Internal Service
- Leadership
- Innovation
- Community Service
- Superior Team Results
Awards include:
- Chairman's Award
- Shining Star/Employee of the Month
- Excellence in Leadership
- Outstanding Achievement
- Pay for Performance
- Service Awards
Updated April 1, 2007
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