Giant casino operator Harrah’s Entertainment announced this week that the company has plans to raise $610.9 million through an initial public offering that will take place this month and will later change its name to Caesars Entertainment. Harrah’s will offer 31.3 million shares of common stock with prizes that go from $15 to $17 a share.

In June 2005 Harrah’s purchased rival casino operator Caesars Entertainment for $9 billion and in January 2008 the company was taken private through a $29 billion private equity buyout. Later that year Harrah’s representatives announced the company would change its name to Caesars Entertainment, but this plan was never followed.

Currently, Harrah’s owns 53 gaming properties in six different countries, which makes it the largest casino operator in the world. Also, the company is the owner of popular World Series of Poker. In Las Vegas, Nevada, Harrah’s owns ten casinos located on the Strip, like Caesars Palace, Bally's, Paris Las Vegas and Planet Hollywood Resort.

The decision to change the casino operator’s name has to do with the fact the rival company MGM Mirage changed its name to MGM Resorts International and Las Vegas Sands Corp. representatives are considering changing the company’s name to Sands International or Sands Resort International.