The Caesars Casino Franchise History

As one of the most successful gambling groups in the world, the Caesars Entertainment company has a corporate history that dates back to the 1930s. While many believe it all began with the Caesars Palace, its story is actually intertwined with several gambling companies. In this guide to the Caesars Casino franchise history, we’ve covered its most important milestones.

When providing a brief history of anything, there is no better place to start than the very beginning. We’ve kicked off this guide by looking at the company’s start in 1937, before exploring the impact of the Caesars Palace in its heyday. We’ve then covered the story from the 1970s and 1990s, before looking at its recent merger with Eldorado.

Our guide includes a rundown of Caesars casino operations, the history of the establishment’s ownership, and its emergence on the online gambling scene. If you’d like to learn more, check our Caesars casino review for WV and start playing today.

• The Beginning
• The Caesars Palace
• The 1970s to 1990s
• The 2000s and Beyond
• Caesars Online Gambling

The Beginning of the Company Who Owns Caesars Casino Operations

The current incarnation of the Caesars Entertainment franchise can be traced back to 1937 when Bill Harrah opened a bingo parlor in Reno. While his first outing failed, his second attempt in 1939 was more successful, and he later opened the full-scale casino, Harrah’s Club, some three years later.

He later opened casinos in Lake Tahoe, and over the next 20 years, his gambling empire grew. By 1961, Harrah was one of the world’s largest gambling operators, with both casinos generating $40 million per year. He also set the standard of what gambling resorts offered, with on-site hotels and entertainment a major draw.

During this period of growth, The Flamingo Hotel & Casino became the first casino on the Las Vegas Strip. Not owned by Harrah, this casino was instantly popular and saw a boom in development for Vegas as a gambling destination. The Flamingo offered extravagant shows and hotels and lavish amenities for its guests.

This inspired the construction of the Horseshoe Casino by Benny and Jack Binnion in Las Vegas. This became a major draw for high rollers due to its high-stakes betting options and luxurious amenities. It would also be the first site to host the World Series of Poker in 1970.

In 1972, Harrah’s became the first gambling company to be listed on the New York Stock Exchange. This is despite the fact it had yet to open a casino in Las Vegas and was instead cornering the market in Reno. While it may not seem relevant now, Harrah’s will play a larger role in the Caesars Palace Las Vegas historyin the later part of this story.

The Caesars Palace Original Incarnation

When the Caesars Palace opened on the Vegas Strip in 1967, there had been nothing like it in the world seen before. The conception of owner Jay Sarno, the Caesars Palace original was designed to emulate the opulence of life in the Roman Empire. The hotel was decorated with marble columns and statues to create a palatial atmosphere, and it immediately attracted major stars.

While it was said to be controlled by the mafia in its early days, this didn’t stop guests from flooding in. Its 1960s heyday saw a number of iconic moments hosted on-site, including Evel Knievel’s unsuccessful bike jump over the fountains and Frank Sinatra’s ill-fated residency.

Its Circus Circus was considered the most expensive and lavish and saw top gamblers from around the world visit. Under pressure from the FBI due to its connection to organized crime, the Palace was sold in 1969 and rebranded as Caesars World. It also began to expand its hotel accommodations to meet demand.

Beyond the Caesars Palace History: The 1970s to the 1990s

The years between 1970 and the late 1990s saw plenty of change for the companies that would eventually merge to become the Caesars Entertainment company. First, the Eldorado Hotel and Casino opened in 1973 in Reno. Head by Donald Carano, Eldorado Resorts grew its power and influence over the successive three decades.

Meanwhile, the Caesars Group established a casino in Atlantic City in 1979 that would rival its Caesars Palace original. This was the second to open in the city after the legalization of casino gambling in New Jersey. Initially called the Boardwalk Regency Casino, it was finally changed to Caesars Atlantic City by 1987.

Over this period, there were highs and lows for the company. In 1988, a climactic scene in the film Rain Man was shot on the Vegas casino floor, which gave audiences an insight into its glamorous interiors and increased interest in the site. Over the next decade, the site would see major renovations. The Forum Shops at Caesars opened in 1992 and was the first boutique shopping district.

As for Harrah’s, this was bought by the Holiday Inn company in the 1980s, with the Holiday Casino rebranded to Harrah’s Las Vegas in 1992. The company grew rapidly, acquiring casinos around the country. It was later renamed Harrah’s Entertainment. The Caesars Resorts acquired the Flamingo Hotel in the late 90s, giving it four casinos on the Strip.

The 2000s and Beyond

In 2005, Harrah’s Entertainment acquired Caesars Entertainment for $10.4 billion. The new company had a portfolio of over 40 casinos and was soon renamed Caesars Entertainment to capitalize on its iconic branding and continue the Caesars Palace history. Over the next decade, the company expanded into England, Spain, the Bahamas, and Macau.

The company became extremely influential in Nevada. The company would also acquire Horseshoe Entertainment and its properties, and for some time it controlled large swathes of the Las Vegas Strip. However, its good fortune was not to last. In 2015, the Caesars Entertainment Operating Company filed for bankruptcy.

This was due to a gradual slump in profits, which left it unable to pay off its debts. As a result, the parent company saw a reorganization of its properties and created the Vici Properties real estate investment trust. The company was eventually merged with Eldorado Resorts in 2019 after it was purchased for $8.6 billion.

The company retained its Caesars Entertainment name, again to capitalize on its prestige. As you can see, the story of who own Caesars casino operations is by no means a straightforward one, and its current standing involves several mergers and acquisitions between Harrah’s, Eldorado, and Caesars. As it stands, Caesars remains a very profitable company.

Its properties are either owned outright or operated as a part of a licensing lease agreement. Acquired businesses include the World Series of Poker, the Tropicana, all Horshoe casinos, all Harrah’s casinos, the US component of William Hill, and the Paris Las Vegas.

Caesars Online Gambling

When New Jersey legalized online casino gambling in 2013, Caesars was quick to launch three gambling websites in the state. It now operates online casinos in Michigan and West Virginia in addition to the Caesars online casino New Jersey. Its online casinos offer comprehensive options, including slots, table games, online poker, and live games.

When the federal ban on sports betting was overturned in 2018, so too did Caesars rise to bring sports betting to players across the country. With many operating under the William Hill banner, Caesars Sportsbook is available in 20 states and offers both pre-match and live bets with competitive odds.

One of the best things about using a Caesars-branded sportsbook or online casino is that you can link your Caesars Rewards account. This will see you accrue points based on your spending which can be converted into online and in-person rewards, such as discounted hotel stays and dinner vouchers.