That’s right, you heard correctly. Harrah’s Entertainment Inc., the official rights holder to the World Series of Poker (WSOP), announced this week that its Board of Directors voted in favor of changing the company’s name to Caesars Entertainment Corporation.
CEO Gary Loveman commented on the recent change, “Adoption of the name Caesars Entertainment Corporation will provide our company with greater prestige and help attract strategic business partners as we pursue expansion opportunities in new jurisdictions. The change also reflects our evolution into a full-service entertainment company that offers a rich range of gaming and non-gaming amenities to our guests.”
However, the company will continue to use the timeless Harrah’s logo as a primary casino brand icon, not wanting to abandon one of the most recognized names in the gambling industry. The Board of Directors felt that the adoption of Caesar’s as the company’s name better suited the image they wanted to project. While Harrah’s acquired the Caesar’s brand name in 2005 they now believe the name represents entertainment, dining and shopping in a way that Harrah’s does not. Hence, changing the name is a symbol of the company’s evolution.
In a press release written this week by Harrah’s, the company reaffirmed its corporate commitment to its employees, customers and the many communities where they run operations. Loveman wrote, “Our employees will remain dedicated to the innovation, customer-service excellence and corporate citizenship that have been hallmarks of our company for decades. But this re-branding of the corporate name can open exciting new opportunities for us in the future.”
Going along with the new changes, the company has also announced the addition of four new members to their Board of Directors. They are: Charles Atwood, vice chairman of Harrah's Entertainment, Jeanne Jackson, former CEO of Walmart.com, Christopher Williams, CEO of Williams Capital Group, and former Pittsburgh Steelers wide receiver Lynn Swann (pending regulatory approval.)
From football, to Wal-Mart, to Caesars; Harrah’s has been making big changes that will prove to have a resounding impact, forever changing the image of the gambling industry. All of these changes are still pending regulatory approval and so it remains unknown as to whether or not the changes will be enacted prior to this year’s May 30th start of the 2008 World Series of Poker.