Harrah's Entertainment, Inc.

The company's background can be traced to October 29, 1937, when Bill Harrah opened a small bingo parlor in Reno, Nevada, a predecessor to Harrah's Reno. In 1955, he expanded to Stateline, Nevada, on the south shore of Lake Tahoe, where he would eventually open Harrah's Lake Tahoe. Harrah's Inc. made its initial public offering in 1971. Following that in 1972, it was listed on the American Stock Exchange and in 1973, Harrah's became the first casino company listed on the New York Stock Exchange.

In February 1980, Holiday Inns acquired Harrah's, Inc. for $300 million. Liquidation of Harrah's collection of almost 7,000 antique automobiles reportedly returned the full purchase price of the company to Holiday Inn. Holiday Inn at the time had interests in two casinos: the under-construction Holiday Inn Marina Casino in Atlantic City, and a 40 percent stake in the Holiday Casino, adjacent to the Holiday Inn hotel on the Las Vegas Strip.

Subject ID: 11117

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The company's background can be traced to October 29, 1937, when Bill Harrah opened a small bingo parlor in Reno, Nevada, a predecessor to Harrah's Reno. In 1955, he expanded to Stateline, Nevada, on the south shore of Lake Tahoe, where he would eventually open Harrah's Lake Tahoe. Harrah's Inc. made its initial public offering in 1971. Following that in 1972, it was listed on the American Stock Exchange and in 1973, Harrah's became the first casino company listed on the New York Stock Exchange.

In February 1980, Holiday Inns acquired Harrah's, Inc. for $300 million. Liquidation of Harrah's collection of almost 7,000 antique automobiles reportedly returned the full purchase price of the company to Holiday Inn. Holiday Inn at the time had interests in two casinos: the under-construction Holiday Inn Marina Casino in Atlantic City, and a 40 percent stake in the Holiday Casino, adjacent to the Holiday Inn hotel on the Las Vegas Strip.

Subject ID: 11117

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