Caesars restarts IPO plans

The us$50 million figure is subject to change as the managers of the IPO gauge investor interest. Caesars owns or operates 52 casinos in the U.S. and overseas as of Sept. 30. Its brands include Harrah's, Caesars and Horseshoe.

Apollo Management Group, led by buyout titan Leon Black, and Texas Pacific Group paid us$ 17.1 billion and took on us$ 12.4 billion in debt in 2007 to take Caesars, then known as Harrah's, private. It was one of the biggest leveraged buyouts ever. At the time, private money was on a shopping spree for casino operators, considered hot targets for their cash-generating ability and real estate holdings. Then the financial crisis hit, taking with it many of the dollars that kept slot machines spinning and blackjack tables full.

Caesars changed its name from Harrah's Entertainment Inc. in November 2010 after canceling its IPO.

The gambling company's latest attempt to go public comes as the casino industry is still looking to regain its footing. Strength in Macau has helped companies with Asian operations, as US gambling markets in Las Vegas and Atlantic City slowly improve.

Most of Caesars' casinos are in the U.S. and the U.K., although the company says it is trying to expand into Asia.

Caesars did not say in the regulatory filing Tuesday how many shares it plans to sell, for how much, or when. It said it plans to list on the Nasdaq exchange under the "CZR" ticker symbol.

The IPO has been viewed in part as a way for Caesars to alleviate its debt load. The company had total long-term debt of $19.62 billion as of Sept. 30, according to the filing.

For the nine months ended Sept. 30, Caesars reported a loss of us$ 467 million on revenue of us$ 6.66 billion.