LAS VEGAS, April 13, 2018 /PRNewswire/ -- Caesars
Entertainment Corporation (NASDAQ: CZR) today announced it has
signed a definitive agreement with the Buena Vista Gaming
Authority, an entity of the Buena Vista Rancheria of Me-Wuk Indians
of California ("Buena Vista
Tribe") to bring a new 71,000 square-foot Harrah's-branded facility
to Northern California. Complete
with gaming and dining options, this exciting announcement furthers
Caesars Entertainment's plan to expand its brands into new
markets.
"This agreement with the Buena Vista Gaming Authority advances
our growth strategy to expand the reach of our brands into new
markets and reinforces our over 20-year history working with tribal
partners," said Mark Frissora,
President and CEO of Caesars Entertainment. "We expect our Harrah's
brand and Total Rewards network to increase the earnings potential
of the property while generating incremental revenue for Caesars
Entertainment without significant capital investment."
Caesars Entertainment will provide brand licensing and
consulting services for the casino, to be named Harrah's Northern
California Casino, which will be developed, owned and operated by
the Buena Vista Gaming Authority near Sacramento, California. The 71,000 square-foot
property is expected to open in 2019, and will include 950
state-of-the-art slots, 20 table games, one full-service restaurant
and three fast-casual dining concepts. Once operational, Caesars
intends to enter into a management agreement with the Buena Vista
Gaming Authority to manage, operate and maintain the property on
behalf of the Gaming Authority and the Buena Vista Tribe.
"We're excited to partner with Caesars Entertainment to bring
the Harrah's brand to our gaming project," said Rhonda L. Morningstar Pope-Flores, Chairwoman of
the Buena Vista Rancheria of Me-Wuk Indians. "Harrah's is a
world-class brand that is known for offering a fun gaming
atmosphere with unparalleled customer service. We're confident that
it will attract more people to our destination."
Harrah's Northern California Casino will be located on the Buena
Vista Tribe reservation land in Amador
County, approximately 1 mile south of the town of Buena
Vista, 5 miles southeast of the city of Ione, 28 miles northeast of the City of Stockton, and 32 miles southeast of
the City of Sacramento. The
location is complementary to Caesars Entertainment's existing
portfolio and is expected to generate strong visitation and
excellent financial returns.
This year the Harrah's brand celebrates its rich, 80-year
history as a preeminent leader in gaming. William F. Harrah
opened his first bingo parlor in Reno, Nevada in 1937,
followed by his first hotel in the city's downtown, beginning the
classic Harrah's brand. Harrah's Las Vegas opened its
doors in 1992 and is one of 16 Harrah's resorts worldwide.
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. 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.
About the Buena Vista Gaming Authority
The Buena Vista
Gaming Authority is an unincorporated governmental instrumentality
of the Buena Vista Tribe created by tribal law on July 15, 2009, to own, develop and operate the
gaming and related businesses of the Tribe. The Gaming
Authority is governed by an independent board of directors,
appointed and overseen by the Tribal Council.
About the Buena Vista Rancheria of Me-Wuk Indians
The
Buena Vista Rancheria of Me-Wuk Indians is a federally recognized
Indian tribe with a 67.5-acre reservation in Amador County, California. Me-Wuk
Indians have occupied the area since at least 1817 and the Buena
Vista Tribe has occupied the reservation land from as early as
1905. In 1927, the United
States purchased the reservation land for use and occupancy
of the Me-Wuk Indians. The Buena Vista Tribe is organized under its
constitution and is governed by a Tribal Council. The Tribe's
mission is to promote the health and general welfare of the Tribal
members, and to administer charity and other services that may
contribute to the social and economic advancement of the Tribe and
its members, while also serving as a great community
neighbor. The Buena Vista Tribe has agreed to provide
millions of dollars of mitigation measures and other benefits
annually to Amador County and
local public safety agencies.
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SOURCE Caesars Entertainment Corporation