Tuesday, Nov. 23, 2010 | 6:29 a.m.
Harrah's Entertainment Inc., the world's largest casino company, has changed its name to Caesars Entertainment Corp.
Harrah's will continue to be one of the company's brands, along with Caesars, Horseshoe, Total Rewards, and World Series of Poker.
Chairman and president Gary Loveman said Tuesday the new name can open new opportunities for the company in the future.
The company has 52 casinos in six countries. It has 70,000 employees and annual revenues of $8.9 billion.
The company canceled its initial public offering last week, folding its hand for now on a risky bet on returning to the stock market just three years after it went private.
Harrah's reported a loss of $634.4 million during the nine months that ended Sept. 30, though recently its business, along with the broader casino industry, has shown signs of improvement.
The Harrah's name change follows that of MGM Resorts International, known until this past summer as MGM Mirage. MGM Chairman and Chief Executive Jim Murren has said the name change is better aligned with his company’s current strategy to expand the brand globally.