erinwootan

Going Public

Posted on: February 2, 2012

As you may have heard today, Caesars Entertainment has again announced plans to go public and offer an IPO in the near future. So, how about a little history to get us started on how this began:

In 2005, Harrah’s aquired Caesars Entertainment in a $9 billion buyout, the largest at that time.

In January 2008, Harrah’s Corporation was purchased by two private equity firms and was removed from the New York Stock Exchange. In December of that same year, Harrah’s announced plans to change its name to Caesars Entertainment.

In late 2010, Caesars began the IPO process. They initially valued the stocks at $15-17 per share, hoping to raise over $500 million, however the company ended up not going forward with the process, citing market conditions.

Fast forward back to today. The IPO process was started back in November of 2011, and today the announcement was made that the company is indeed moving forward with the IPO next week. They plan to sell 1.81 million shares at about $8-10 per share for a total of $18.1 million.

Project LINQ. Click for credit...

Going public will allow the company to move forward with some new projects it has planned, including Project LINQ in Las Vegas, casinos in Ohio and possibly a casino in the Baltimore area. I read an article that Caesars is the only company that has actually been expanding since the recession hit in 2008.

So, do you think that this IPO is a good idea for Caesars Corporation?

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This blog is devoted to the gaming industry news and information - keeping you up to date on the happenings in the gaming world. My personal expertise lies in event planning and entertainment in casinos.

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