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Harrah's Entertainment Inc becomes Caesars Entertainment

The world's largest casino operator with 50 casinos, in the United States and Britain, finalized terms for an initial public offering that would raise about $500 million by selling 9.3% of the company’s share. The name will change to Caesars Entertainment Corp while keeping the three major brands Caesars, Harrah's and Horseshoe. The firm was taken private in 2008, prior to the crisis, equity funds Apollo and TPG Capital, for $28 billion. The capital value is now close to $5 billion with a company debt of almost $20 billion.

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