LAS VEGAS, Nov. 17, 2017 /PRNewswire/ -- Caesars
Entertainment Corporation (NASDAQ: CZR) ("Caesars Entertainment")
announced today that its subsidiaries, Chester Downs and Marina, LLC and Chester Downs
Finance Corp. (collectively, the "Issuers"), are redeeming all of
the outstanding $330,000,000
aggregate principal amount of the Issuers' 9.25% Senior Secured
Notes due 2020 (the "2020 Notes"). The 2020 Notes (CUSIP Nos.
U1653P AA7 and 165749 AA0) will be redeemed in full on December 18, 2017 (the "Redemption Date") at a
price equal to 102.313% of the principal amount thereof, plus
accrued and unpaid interest, if any, to, but not including, the
Redemption Date.
Inquiries related to procedures to redeem the 2020 Notes may be
directed to U.S. Bank National Association, as Trustee and Paying
Agent, by telephone at 1-800-934-6802.
This announcement shall not constitute an offer to purchase or a
solicitation of an offer to sell any securities. The Issuers will
provide notice of redemption to each holder in accordance with the
terms of the 2020 Notes and the related Indenture. Holders should
read carefully the notice regarding the procedures to redeem the
2020 Notes.
About Caesars Entertainment Corporation
Caesars Entertainment is the world's most diversified
casino-entertainment provider and the most geographically diverse
U.S. casino-entertainment company. Caesars Entertainment is
mainly comprised of the following three entities: the wholly owned
operating subsidiaries CEOC, LLC, Caesars Entertainment Resort
Properties, LLC and Caesars Growth Partners, LLC. Since its
beginning in Reno, Nevada, in
1937, Caesars Entertainment has grown through development of new
resorts, expansions and acquisitions and its portfolio of
subsidiaries now operate 47 casinos in 13 U.S. states and five
countries. Caesars Entertainment's resorts operate primarily
under the Caesars®, Harrah's® and Horseshoe® brand names.
Caesars Entertainment's portfolio also includes the Caesars
Entertainment UK family of casinos. Caesars Entertainment is
focused on building loyalty and value with its guests through a
unique combination of great service, excellent products,
unsurpassed distribution, operational excellence and technology
leadership. Caesars Entertainment is committed to
environmental sustainability and energy conservation and recognizes
the importance of being a responsible steward of the environment.
For more information, please visit www.caesars.com.
This release contains or may contain "forward-looking
statements" intended to qualify for the safe harbor from liability
established by the Private Securities Litigation Reform Act of
1995. These statements can be identified by the fact that they do
not relate strictly to historical or current facts. Caesars
Entertainment has based these forward-looking statements on its
current expectations about future events. Further, statements that
include words such as "may," "will," "project," "might," "expect,"
"believe," "anticipate," "intend," "could," "would," "estimate,"
"continue," or "pursue," or the negative of these words or other
words or expressions of similar meaning may identify
forward-looking statements. These forward-looking statements are
found at various places throughout this release. These
forward-looking statements, including, without limitation, those
relating to future actions, new projects, strategies, future
performance, the outcome of contingencies such as legal
proceedings, and future financial results, wherever they occur in
this release, are necessarily estimates reflecting the best
judgment of Caesars Entertainment's management and involve a number
of risks and uncertainties that could cause actual results to
differ materially from those suggested by the forward-looking
statements. These forward-looking statements should, therefore, be
considered in light of various important factors set forth above
and from time to time in Caesars Entertainment's filings with the
Securities and Exchange Commission.
In addition to the risk factors set forth above, important
factors that could cause actual results to differ materially from
estimates or projections contained in the forward-looking
statements include without limitation:
- the impact of Caesars Entertainment's substantial
indebtedness;
- the effects of local and national economic, credit, and capital
market conditions on the economy, in general, and on the gaming
industry, in particular;
- the ability to realize the expense reductions from cost savings
programs;
- access to available and reasonable financing on a timely
basis;
- the ability of Caesars Entertainment's customer-tracking,
customer loyalty, and yield-management programs to continue to
increase customer loyalty and same-store or hotel sales;
- changes in laws, including increased tax rates, smoking bans,
regulations or accounting standards, third-party relations and
approvals, and decisions, disciplines, and fines of courts,
regulators, and governmental bodies;
- the ability to recoup costs of capital investments through
higher revenues;
- abnormal gaming holds ("gaming hold" is the amount of money
that is retained by the casino from wagers by customers);
- the ability to timely and cost-effectively integrate companies
that Caesars Entertainment acquires into its operations;
- the effects of competition, including locations of competitors,
competition for new licenses and operating and market
competition;
- the potential difficulties in employee retention and
recruitment as a result of Caesars Entertainment's substantial
indebtedness or any other factor;
- construction factors, including delays, increased costs of
labor and materials, availability of labor and materials, zoning
issues, environmental restrictions, soil and water conditions,
weather and other hazards, site access matters, and building permit
issues;
- litigation outcomes and judicial and governmental body actions,
including gaming legislative action, referenda, regulatory
disciplinary actions, and fines and taxation;
- the effects of environmental and structural building conditions
relating to Caesars Entertainment's properties;
- access to insurance on reasonable terms for Caesars
Entertainment's assets;
- acts of war or terrorist incidents, severe weather conditions,
uprisings, or natural disasters;
- losses sustained as a result of natural disasters, including
losses in revenues and damage to property, and the impact of severe
weather conditions on Caesars Entertainment's ability to attract
customers to certain of its facilities; and
- the impact, if any, of unfunded pension benefits under
multi-employer pension plans.
You are cautioned to not place undue reliance on these
forward-looking statements, which speak only as of the date of this
release. Caesars Entertainment undertakes no obligation to publicly
update or release any revisions to these forward-looking statements
to reflect events or circumstances after the date of this release
or to reflect the occurrence of unanticipated events, except as
required by law.
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SOURCE Caesars Entertainment