Harrah's Entertainment

Harrah's Entertainment Background

LAS VEGAS - JULY 15: Poker player Aaron Kanter of California checks the table during the final day of competition at the World Series of Poker no-limit Texas Hold 'em main event at Binion's Horseshoe Gambling Hall and Hotel July 15, 2005 in Las Vegas, Nevada. (Photo by Ethan Miller/Getty Images)Harrah's Entertainment was founded in 1937 by William F. Harrah.

In 1973, Harrah's became the first casino company to list on the New York Stock Exchange.

Harrah's Entertainment is owned by Hamlet Holdings and is now the largest gaming company in the world, with annual revenues of about $7 billion.

Harrah's purchased the Rio All-Suite Hotel & Casino in 1999 and moved its base of operations to Las Vegas, Nevada.

Harrah's has been in charge of running the World Series of Poker (WSOP) since acquiring the rights to the series in 2004. In 2009, the Rio Casino celebrated its fifth anniversary as venue for the World Series of Poker.

The gaming company bought the original WSOP venue – Binion's Horseshoe – in 2004, but resold it, keeping the rights to the World Series of Poker and the Horseshoe brand.

In 2005, Harrah's Entertainment clinched the takeover of Caesars Entertainment before announcing that all its gaming brands would be grouped under four brands: Harrah's, Rio, Caesars and Horseshoe.

On January 28, 2008, Harrah's Entertainment was delisted from the New York Stock Exchange, with Hamlet Holdings taking the company private.

World Series of Poker Europe

Harrah's Entertainment decided to expand the World Series of Poker franchise into Europe in 2007, following Harrah's purchase of London Clubs International (LCI) for $568 million in December 2006.

LCI operates three casinos in the London area: Fifty, Leicester Square and The Sportsman.

The World Series of Poker Europe is the first phase in the international expansion of World Series of Poker tournaments, with further possible expansion into South Africa and Egypt also being mooted. Harrah's Entertainment already owns casinos in both of these countries.

World Series of Poker

With Harrah's Entertainment at the helm, it seems that the World Series of Poker is in safe hands.

The number of initiatives and partnerships Harrah's is continually pursuing illustrate the gaming company's commitment to growing the popularity of the World Series of Poker worldwide.