Eastern Band of Cherokee Indians Joins Caesars Entertainment as Joint Venture Partner in $650 Million Caesars Virginia Development


Danville, Virginia., August 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 opens in Danville this week. The $650 million will be a tourism driver and an economic driver for Danville and the wider region. The full-service entertainment facility will create thousands of construction and operations jobs and is expected to open in late 2024.

Caesars Virginia will feature a 500-room hotel and world-class casino gaming arcade with over 1,300 slot machines, 85 live table games, 24 electronic table games, a WSOP poker room and a Caesars Sportsbook. Additionally, the resort will feature a full-service spa, pool, high-quality bars and restaurants, a 2,500-seat state-of-the-art entertainment theater, and 40,000 square feet of meeting and convention space.

Caesars, the nation’s largest casino entertainment company with more than 50 owned and operated properties, will act as the casino’s manager. Caesars, EBCI and a local minority investor will be joint venture partners. The Caesars Sportsbook app is already live and available for download and registration everywhere Virginia.

When completed in 2024, Caesars Virginia will attract new customers and existing members of Caesars Rewards top player loyalty program who reside in the wider Danville region and across the country.

“We are thrilled to build a world-class Caesars hotel in Danville with the Eastern Band of Cherokee Indians, a valued partner of Caesars Entertainment for over 20 years,” said Anthony Carano, President and Chief Operating Officer of Caesars Entertainment. “Caesars’ diverse lineup of destinations across the United States 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 offers to the Danville region for people’s enjoyment. »

“This venture is a vital opportunity for our nation and our people. We are excited to extend our long-standing and successful partnership with Caesars Entertainment to develop a first-class resort that will be defined by the luxury and service that guests of Caesars have known and expected,” said Richard Sneedchief 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 United States and one of the most diverse casino entertainment providers in the world. Since its beginnings in Reno, Nevadain 1937, Caesars Entertainment, Inc. has grown through the development of new resorts, expansions and acquisitions. Caesars Entertainment, Inc.’s resorts mainly operate under the Caesars®, Harrah’s®, Horseshoe® and Eldorado® brand names. Caesars Entertainment, Inc. offers diverse gaming, entertainment and hospitality amenities, one-stop destinations and a full suite of mobile and online gaming and sports betting experiences. All linked to its industry leader Caesars Rewards loyalty program, the company is focused on creating value with its customers 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 quit before you start.® Trouble gambling? Dial 1-800-522-4700. For more information, please visit. www.caesars.com/company.

About ECBI Holdings, LLC
EBCI Holdings, LLC, a Delaware limited liability company, is solely owned by the Eastern Band of Cherokee Indians and is independently operated by a management team reporting to a five-member Board of Directors. EBCI Holdings, LLC was formed to diversify the tribe’s economy with a focus on developing, acquiring, and managing commercial casino and hospitality businesses across the United States. 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 contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our use of the words “plans”, “assumes”, “believes”, “estimates”, “expects”, “guidance”, “intends”, “plans”, ” projects” and similar expressions that have nothing to do with the story. All statements other than statements of historical fact are forward-looking statements. You should exercise caution when interpreting and relying on forward-looking statements, as they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond Caesars‘ and could materially affect actual results, performance or achievements. Although Caesars believes that in making such forward-looking statements, its expectations are based on reasonable assumptions, such statements may be influenced by factors that could cause actual results and outcomes to differ materially from those projected. Caesars cannot assure you that the assumptions on which such statements are based will prove to be correct. Important risk factors that could affect their respective businesses, results of operations and financial condition 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 required by applicable law.

SOURCE Caesars Entertainment, Inc.


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