DANVILLE, Va., Aug. 10,
2022 /PRNewswire/ -- Caesars Entertainment,
Inc. (NASDAQ: CZR) ("Caesars") and the Eastern Band of
Cherokee Indians ("EBCI") today announced their partnership in the
development of Caesars Virginia, which officially breaks ground in
Danville this week. The
$650 million project will be a
tourism engine and economic driver for Danville and the
broader region. The full-service entertainment facility will create
thousands of construction and operational jobs and is scheduled to
open in late 2024.
Caesars Virginia will include a
500-room hotel and a world-class casino gaming floor with over
1,300 slots, 85 live table games, 24 electronic table games, a WSOP
poker room and a Caesars Sportsbook. In addition, the resort will
feature a full-service spa, pool, high-quality bars and
restaurants, a 2,500-seat state-of-the-art live entertainment
theater and 40,000 square feet of meeting and convention space.
Caesars, the largest domestic casino-entertainment company with
more than 50 owned and managed properties, will serve as the
manager of the casino. Caesars, EBCI and a local minority investor
will be partners in the joint venture. The Caesars Sportsbook app
is already live and available for download and registration
throughout Virginia.
Upon its completion in 2024, Caesars Virginia will attract
visitation from new customers and existing members of the
best-in-class Caesars Rewards player loyalty program who reside in
the broader Danville region and
across the country.
"We are excited to build a world-class Caesars resort in
Danville with the Eastern Band of
Cherokee Indians, a valued partner of Caesars Entertainment for
more than 20 years," said Anthony Carano, President and Chief
Operating Officer for Caesars Entertainment. "Caesars' diverse
collection of destinations across the U.S. is synonymous with
unparalleled service, impressive benefits through our Caesars
Rewards loyalty program, superstar entertainment talent and
culinary excellence. We will bring these same phenomenal offerings
to the Danville region for people
to enjoy."
"This venture is a vital opportunity for our nation and our
people. We are excited to be expanding our longstanding and
successful partnership with Caesars Entertainment to develop a
first-class resort that will be defined by luxury and service that
Caesars' guests have known and come to expect," said Richard Sneed, Principal Chief of the Eastern
Band of Cherokee Indians.
About Caesars Entertainment, Inc.
Caesars
Entertainment, Inc. (NASDAQ: CZR)
is the largest casino-entertainment company in the U.S. and one of
the world's most diversified casino-entertainment providers. Since
its beginning in Reno, NV, in
1937, Caesars Entertainment, Inc. has grown through
development of new resorts, expansions and acquisitions.
Caesars Entertainment, Inc.'s resorts operate
primarily under the Caesars®, Harrah's®, Horseshoe®,
and Eldorado® brand names. Caesars
Entertainment, Inc. offers diversified gaming, entertainment
and hospitality amenities, one-of-a-kind destinations, and a full
suite of mobile and online gaming and sports betting experiences.
All tied to its industry-leading Caesars Rewards
loyalty program, the company focuses on building value with its
guests through a unique combination of impeccable service,
operational excellence and technology leadership. Caesars
is committed to its employees, suppliers, communities and the
environment through its PEOPLE PLANET PLAY framework. Know When To
Stop Before You Start.® Gambling Problem? Call 1-800-522-4700. For
more information, please visit.
www.caesars.com/corporate.
About ECBI Holdings, LLC
EBCI Holdings, LLC, a
Delaware Limited Liability Company is solely owned by the Eastern
Band of Cherokee Indians and operated independently by a senior
leadership team reporting to a five-member board of
directors. EBCI Holdings, LLC was formed to
diversify the Tribe's economy through a focus on developing,
acquiring, and managing commercial casinos and hospitality-based
businesses throughout the U.S. EBCI Holdings,
LLC currently operates Caesars Southern Indiana and EBCI Tech
Fund 1, a gaming technology venture capital fund.
Forward-Looking Statements
This press release
includes forward-looking statements within the meaning of the
federal securities laws. You can identify these statements by our
use of the words "anticipates," "assumes," "believes," "estimates,"
"expects," "guidance," "intends," "plans," "projects," and similar
expressions that do not relate to historical matters. All
statements other than statements of historical fact are
forward-looking statements. You should exercise caution in
interpreting and relying on forward-looking statements because they
involve known and unknown risks, uncertainties, and other factors
which are, in some cases, beyond Caesars' control and
could materially affect actual results, performance, or
achievements. Although Caesars believes that in making
such forward-looking statements its expectations are based upon
reasonable assumptions, such statements may be influenced by
factors that could cause actual outcomes and results to be
materially different from those projected. Caesars
cannot assure you that the assumptions upon which these
statements are based will prove to have been correct. Important
risk factors that may affect their respective business, results of
operations and financial position are detailed from time to time
in Caesars' filings with the Securities and
Exchange Commission. Caesars does not undertake any
obligation to update or revise any forward-looking statement,
whether as a result of new information, future events, or
otherwise, except as may be required by applicable law.
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SOURCE Caesars Entertainment, Inc.