Harrah's is changing the corporate name to Caesars because it is a better known brand in Asia and Harrah's wants to be in Asia in a bad way. They are only selling a small public stake to raise money. Harrah's went private at the right time for the original investors (mainly pension funds), but it was bad timing for the new owners.

IMHO In hindsight Harrah's dodged bankruptcy a couple of times, they did some drastic cost cutting moves, but they managed to dodge all the land mines that faced them. Some might disagree with me, but they managed themselves very well during some pretty dark times for the gaming business. As a manager I have learned a lot about managing during these times, how to be more efficient, how to do more with less, and how to keep the employees happy and motivated, plus keeping guests happy and coming back.