News for the Hospitality Executive
|LAS VEGAS, Feb.
7, 2012 -- Caesars Entertainment Corporation ("Caesars"
or the "Company") announced today that its common stock was
approved for listing on the Nasdaq Global Select Market under the
"CZR" and its offering of 1,811,313 shares of its common stock was
priced at $9.00. Gross proceeds from this
offering will be approximately $16 million before
deducting the underwriting discounts and commissions and expenses.
Caesars also granted to the underwriters a 30-day option to purchase up to 271,697 additional shares of its common stock at the initial price less underwriting discounts and commissions.
In addition to the shares to be sold by Caesars in this offering, shares held by certain existing investors representing approximately 27.8 percent of the Company's issued and outstanding capital stock have also been registered for resale, of which approximately 18.8 percent are now freely tradable, with the remainder becoming freely tradable 180 days after completion of the offering described above.
Credit Suisse and Citigroup are acting as joint book-running managers and representatives for the offering, BofA Merrill Lynch and Deutsche Bank Securities are acting as joint book-running managers for the offering and KeyBanc Capital Markets, Lebenthal & Co., LLC, and Ramirez & Co.,Inc. are acting as co-managers for the offering. The offering will be made only by means of a prospectus. Copies of the prospectus related to the offering may be obtained, when available, from: Credit Suisse, Attention: Prospectus Department, One Madison Avenue, New York, New York, 10010, or by telephone at 1-800-221-1037, or by email at email@example.com; or Citigroup, Attention: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220, or by telephone at 800 831-9146 , or by email at firstname.lastname@example.org.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission (the "SEC"). A copy of the registration statement can be accessed through the SEC's website. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Caesars Entertainment
Caesars Entertainment Corporation 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, more than 73 years ago, Caesars has grown through development of new resorts, expansions and acquisitions and now operates casinos on four continents. The company's resorts operate primarily under the Caesars®, Harrah's® and Horseshoe® brand names. Caesars also owns the World Series of Poker® and the London Clubs International family of casinos. Caesars 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 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 includes "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. These statements contain words such as "may," "will," "project," "might," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," "continue" or "pursue," or the negative or other variations thereof or comparable terminology. In particular, they include statements relating to, among other things, future actions, new projects, strategies, future performance, the outcomes of contingencies and future financial results of Caesars. These forward-looking statements are based on current expectations and projections about future events.
Investors are cautioned that forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that cannot be predicted or quantified and, consequently, the actual performance of Caesars may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the following factors, as well as other factors described from time to time in the Company's reports filed with the SEC (including the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained therein):
Gary Thompson - Media
Jacqueline Beato - Investors
Both of Caesars Entertainment Corporation
Web Site: http://www.caesars.com
Entertainment Breaks Ground on Caesars Palace Longmu Bay in Hainan,
China / September 2011
Entertainment to Complete the $1 Billion Octavius Tower at Caesars
Palace in Las Vegas Now Scheduled to Open Early in 2012 / September
Entertainment Narrows Loss in Second Quarter 2011 from $274 million to
$155.5 million / August 2011
Atlantic City in New Jersey Completes $9 Million Renovation of 24
High-Roller Suites in the Ocean Tower; To Follow Up with $7.5 Million
Remodel of 120 Guest Rooms in the Tower / August 2011
Entertainment Unveils Caesars Global Life Unit to Develop Non-Gaming
Hotels and Restaurants / May 2011
Entertainment Names Alexander Mirza as Head of Caesars Hospitality
Ventures and Head of Caesars Global Life, the New Unit for Nongaming
Development / May 2011
Palace and Nobu Hospitality Plan to Open 180-room Nobu-branded Hotel
Through a Multi-Million Dollar Renovation of the Centurion Tower at
Caesars Palace; Property Will Integrate Exclusive Hotel Tower with Nobu
Restaurant and Lounge / March 2011
Kerzner's Newest Luxury Resort, One&Only Cape Town, Opening April
4, 2009; Includes Restaurants from Two of the World's Finest Chefs -
Gordon Ramsay and Nobuyuki Nobu Matsuhisa / February 2009
|Chef Nobu Matsuhisa Set to Open Nobu Waikiki Located in the Lobby of the Waikiki Parc Hotel, Sister Property of the Halekulani / May 2007|