LAS VEGAS (AP) — Park Place Entertainment shareholders approved changing the company name Wednesday to Caesars Entertainment Inc.
The world's largest casino company said the change would become effective Jan. 1. The company's New York Stock Exchange ticker symbol will change to CZR from PPE.
Wallace R. Barr, who took over late last year as company president and chief executive, had said in July that Caesars would be a more powerful name in the international marketplace than Park Place and said market research led to the name change decision.
Barr said customers should not see any differences at company properties.
The company said more than 99 percent of nearly 285 million votes cast at a special shareholder meeting at the Caesars Palace hotel-casino supported the name change.
Park Place owns, manages or has an interest in 29 gambling properties under the Caesars, Bally's, Paris, Flamingo, Grand Casinos and Hilton brand names.
It has 14,624 rooms and about 18,000 employees in Las Vegas, and 54,000 employees and 29,000 hotel rooms worldwide.
Park Place stock was down 14 cents to close at $8.31 on the New York Stock Exchange.