Loveman joined CEC (Harrah’s Entertainment at the time), his associates perfected the player rewards program-called Total Rewards-into perhaps the world’s best. Gary Loveman, the Chairman and Chief Executive Officer, is a former Harvard Business School marketing professor. On the one hand, it arguably has the best operating management of any casino company. Keeneland racetrack in Lexington, Kentucky, owns the other half.ĬEC is in a dilemma. In addition, it owns a half interest in Turfway Park in Northern Kentucky near Cincinnati, Ohio. As a result, the stock is no longer publicly traded.ĬEC is the world’s largest casino company and owns two Thoroughbred racetracks outright (Harrah’s Louisiana Downs and Thistledown in Cleveland, Ohio) and one harness track (Harrah’s Chester in Pennsylvania). Caesars Entertainment Corporation (CEC)–formerly Harrah’s Entertainment-was acquired on Januby affiliates of Apollo Global Management, LLC and TPG Capital, LP in an all-cash transaction valued at approximately $30.7 billion, including the assumption of $12.4 billion of debt and the incurrence of approximately $1.0 billion of acquisition costs.
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