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Member, Beacon International Group, Ltd.
For its entire history, Memphis, Tenn.-based Harrah's Entertainment Inc. has been marked by mergers and acquisitions. Following are major milestones:
1937: Bill Harrah opens his first bingo parlor in Reno, Nev.
1962: Harrah's constructs 400-room hotel tower in Reno.
1973: Harrah's becomes the first casino company listed on the New York Stock Exchange.
1980: Holiday Inns Inc. acquires Harrah's hotel casino company.
1990: Several Holiday Inns assets are transferred to Promus Cos.
1995: Promus Cos. spins off its hotel brands, with the remaining operations renamed Harrah's Entertainment Inc.
2005: Harrah's completes its $9.3 billion acquisition of Caesars Entertainment Inc., the largest merger in gaming industry history, and makes it the world's largest gaming and entertainment company.
2005: Harrah's announces development of gaming resorts in Spain and the Bahamas and plans to develop a resort in Slovenia in a joint venture with a Slovenian company.
2006: Harrah's announces an agreement to be acquired by private equity firms Texas Pacific Group and Apollo Management L.P. The agreement sparked several directors and officers liability lawsuits against Harrah's.
2007: On April 5, Harrah's announces a majority of stockholders approved Harrah's acquisition by Texas Pacific Group and Apollo Management L.P. Pending regulatory approvals, the allcash, approximately $27.8 billion transaction is expected to close by year-end, Harrah's said.