Name change part of IPO initiative
It was recently announced that that a major US land gambling company, which also has online websites operating in the UK, Harrah's Entertainment, is to change the current one and introduce a new name, as a part of an IPO initiative.
Based on a filing with the U.S. Securities and Exchange Commission, the company’s new name will be Caesar’s Entertainment. Apart from this, the company’s plans include initial public offering this month, to raise $610.9 million.
It was stated by Harrah’s that 31.3 million shares (under the symbol CZR) of common stock worth between $15 and $17 per share will be offered on the Nasdaq National Market. It was added that to cover over-allotments, another 4.7 million will be added to underwriters.
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