About Caesars Palace

Caesars Entertainment Corporation (formerly Harrah's Entertainment) likes to spread its bets. The firm owns and/or operates more than 50 casinos (under such names as Harrah's, Horseshoe, and Rio) in 12 US states and seven countries. Altogether its facilities -- including hotels, dockside and riverboat casinos, and Native American gaming establishments -- boast more than 3 million sq. ft. of casino space and some 43,000 hotel rooms. Among its many locations on the Vegas Strip are Caesars Palace, Paris Las Vegas, and Planet Hollywood. The company went public in 2012, more than a year after it cancelled a previous IPO.

IPO

Caesars Entertainment raised only around $16.3 million in its 2012 IPO, a small fraction of the $50 million it had hoped to gain.  These numbers are significantly more modest than its 2010 plans, when the firm had hoped to raise up to $532 million. In the 2012 offering, Caesars ended up selling only 1.4% of itself in one of the smallest IPOs in recent history. The company is using the proceeds for general corporate purpose and to make a dent in its long-term debt, worth a whopping $19.6 billion.

Geographic Reach

With its focus on domestic markets, Caesars is losing ground to competitors such as Las Vegas Sands and Wynn Resorts, companies that have been busy developing properties in the fast-growing Asian market of Macau, China. Caesars does own the Caesars Orient Golf in Macau and would love to open a casino there. However, it must make due with the golf club for now, as the Macau government won't expand the number of gaming licenses in the region. Other international holdings include Caesars' London Clubs  subsidiary, which owns or manages about a dozen casinos in the UK, Egypt, and South Africa. Caesars also owns one property in Uruguay.

Financial Analysis

The company's revenues essentially remained flat in 2011 (a less than 1% gain compared to 2010), though its net loss decreased slightly thanks to an income tax benefit. While revenues declined at properties in the Midwest and Atlantic City, Caesars showed gains in Las Vegas, a market that is beginning to recover from a down economy. At its flagship Caesars Palace on the Vegas strip, the company opened the 600-room Octavious Tower in 2011, is remodeling a second hotel tower, and is moving forward on the $550 million Project Linq, a retail, dining, and entertainment development that will open in phases starting in 2013.

Strategy

On the interactive gaming front, at the end of 2011 the company completed its buyout of Playtika, an Israeli social gaming company with games such as Slotomania, a slot game, and Farkle, a game of dice. It made the deal to boost its Caesars Interactive Entertainment operations, which also includes the World Series of Poker and recently launched Caesars Casino for Facebook. However, in 2012 the company sold part of its Interactive subsidiary to Rock Gaming for $60.8 million.. The deal is an extension of an existing partnership with Rock Gaming -- together the two companies are developing two casinos in Ohio (Cleveland and Cincinnati).

Ownership

Caesars Entertainment is majority-owned by Hamlet Holdings, an affiliate of Apollo Advisors and TPG Capital. 

Company Background

The company (then called Harrah's) became the world's #1 gaming firm, jumping over the merged MGM Resorts/Mandalay combination, when it acquired rival Caesars Entertainment Inc. for $9.4 billion in cash, stock, and debt in 2005. Harrah's itself was acquired by Apollo and TPG, who together make up Hamlet Holdings, in a deal worth some $30 billion in 2009. The following year the company changed its name from Harrah's Entertainment to Caesars Entertainment Corporation to capitalize on the Caesar's name, which it sees as "the world's preeminent and most respected casino brand."

Reviews

Overall

3.9
Based on 40 reviews
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The worst experience I've had working in the Hospitality/Casino Industry
VIP Front Office, Las Vegas - July 10, 2015
My experience was so unfortunate here that there were several times I honestly didn't want to return to work. I felt as though I was being harassed, discriminated against to the point I left most nights frustrated, under a lot of pressure and stressed out.
Working front of house assisting VIP guests was draining and most times stressful on a daily basis. The hardest part of the job is dealing with demanding, sometimes aggressive, condescending, guests.
What's worse is working for a manager that doesn't know their job well, doesn't know how to effectively communicate with staff, doesn't work as a team with the staff but remains in their office during busy times, threatens and reminds staff that they're (and I quote) "Lucky to have a job" and denies just about any and every "time-off" request known to man.
I have several years working in the casino industry and I've NEVER had any negative experience with the exception of Caesars. The only enjoyable part of the job is the co-workers and the tips made. The turnover rate is extremely high with an average of 1 to 2 people quitting in the department per month and moving on to better positions outside of Caesars!!
The morale is low due to the continuous write ups by management, the constant micromanaging, the added responsibility but no increase in pay, being required to perform duties outside of front office duties and lastly not being properly trained or brought up to speed on new policies or procedures that will affect the expectations of high level players which in turn is taken out on staff. In addition to that, staff is also held back by management from applying and transferring to other departments within the company.
There's hardly any motivation when your job and the atmosphere isn't enjoyable nor does management seem to care. There are days when you're expected to work 10 or more hours with only a 1 hr lunch break.
Most days the office is short staffed during heavy check in arrivals and overstaffed for light check in arrivals thanks to poor scheduling by management.
Lastly, staff are on their own when it comes to anything related to PTO questions, insurance and/or benefits, etc. And believe or not, HR is of no use either.
My suggestion...invest your time in a company that REALLY cares about their employees or work for a department that's union where your concerns will be documented, heard and taken into consideration. I've never written a review on a company in the many years that I've been employed but my experience was not what I expected here that I felt compelled to share.
Good luck in your job search.

Salaries

Jobs

  • VIP Operations Coordinator (CLV)

    Las Vegas, NV
    Caesars Entertainment Inc. Caesars Entertainment reserves the right to make changes to the job description whenever necessary....
  • Garde Manger - Banquets (CLV)

    Las Vegas, NV
    Caesars Entertainment Inc. Caesars Entertainment reserves the right to make changes to the job description whenever necessary....
  • Hostess - Raos (CLV)

    Las Vegas, NV
    Caesars Entertainment Inc. Caesars Entertainment reserves the right to make changes to the job description whenever necessary....
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Headquarters
1 Caesars Palace Dr.
Las Vegas NV, United States 89109
Revenue
$5B to $10B (USD)
Employees
10,000+
Industry
Links
Caesars Palace website