On the record · Other
Caesars Entertainment
Apollo and TPG acquired Harrah's in 2008 for $30.7B in one of the largest LBOs ever, loading $25B in debt. Extracted hundreds of millions in fees while transferring valuable real estate. Filed the largest bankruptcy in gaming history in 2015.
Also known as Harrah's Entertainment
Research depth
Outcomes researched
Reviewed operating findings or a classified operating outcome are available.
Record updated Sept. 4, 2026
Current ownership
Current owner not established
This record does not identify a current owner. That absence is a gap in the record, not a conclusion about ownership.
1 ownership record has an unresolved current/former status.
Ownership and transaction history
Chronology from recorded ownership periods, transactions and reviewed outcome events. Event order does not imply causation.
Date not recorded
What happened under and after ownership
Operating outcome
Operating through distress or restructuring
Caesars Entertainment Operating Company filed Chapter 11 in January 2015 to cut about $10 billion of debt; casinos under the Caesars, Harrah's and Horseshoe brands continued operating throughout.
Emerged in October 2017 as a merged company, later combined with Eldorado Resorts in 2020 to form the current Caesars Entertainment.
- Founded
- 1937
- Peak headcount
- 68,000
- Sponsor at closure
- Apollo Global Management and TPG Capital
- Cause
- Debt left at exit
- Las Vegas Review-Journal · continuous casino operation, debt reduction, merger and emergence
- Wikipedia · the company's origin traces to Bill Harrah opening a bingo parlor in Reno in 1937
- SEC 10-K (Caesars Entertainment Corporation, FY2014) · 2015 · approximately 68,000 total employees group-wide as of fiscal year-end 2014, of which about 34,000 were employed by Caesars Entertainment Operating Company, the
- Fortune · 2015 · Apollo Global Management and TPG Capital led the January 2008 leveraged buyout of Harrah's Entertainment (renamed Caesars) that loaded it with roughly $22 billi
What we do not know
These are gaps in the public record, not findings about the organization.
- No current public ownership assessment has been published.
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