"We are pleased to bring our two great companies together," said Gary Loveman, chairman, chief executive and president of Harrah’s Casino Entertainment. "Today we begin the most important task in the history of our company: Capitalizing on the tremendous potential of this merger. By putting our proven capabilities and marketing expertise to work in the incomparable Caesars Casino portfolio, we believe we can generate strong, sustainable growth that will benefit our shareholders, our employees, our customers, and every community where we operate."
Harrah’s Entertainment, Inc. is the world’s largest provider of
branded casino entertainment. Since its beginning in Reno, Nevada 67
years ago, Harrah’s has grown through development of new properties,
expansions and acquisitions. On June 13, 2005, Harrah’s
Entertainment acquired Caesars Casino Entertainment, Inc. and now owns or
manages through various subsidiaries more than 40 casinos in three
countries, primarily under the Harrah’s, Caesars and Horseshoe brand
names. With nearly 4 million square feet of casino space, more than
40,000 hotel rooms and nearly 100,000 employees, the Harrah’s casino
portfolio is the most diverse in the gaming industry. Harrah’s
Entertainment is focused on building loyalty and value with its
customers through a unique combination of great service, excellent
products, unsurpassed distribution, operational excellence and
technology leadership.
Caesars Tahoe Casino Aquired By Columbia Sussex
June/10/2005 Casino News-wire/ -- Columbia Sussex Corporation,
owner, developer and operator of more than 60 hotels, resorts and
casinos worldwide, acquired Caesars Tahoe casino and resort from
Caesars Entertainment Inc. Columbia Sussex took control of the
property on Friday, June 10, following approvals from the Nevada
Gaming Control Board and the Nevada Gaming
Commission.
With the purchase of Caesars
Tahoe, Columbia Sussex Corporation hopes to enliven the South Shore
of Lake Tahoe by providing amenities, entertainment and overall
accommodations unlike anything in the
area.
"This acquisition provides us with
the opportunity to create a resort that is unique to Lake Tahoe,"
said William Yung, president of Columbia Sussex Corporation.
"We plan to reposition the property to appeal to a larger customer
base than it previously attracted."
Columbia Sussex will continue to accept the Caesars Tahoe Casino player's
club card (The Connection Card). Current comp points and
cashback balances will be honored.
The
property will continue to operate as Caesars Casino Tahoe during the
renovation process which is expected to be complete in early
2006. The property will be renamed at that
time.
Columbia Sussex closed last week on
a deal for the Bally's Casino New Orleans. That acquisition
provides a great opportunity in the New Orleans market where
significant improvements to the property will also be
made.
About Columbia Sussex - Columbia Sussex and its affiliates are
one of the largest privately held hotel owners in the country, and
one of Marriott Corporation's top licensees. Columbia Sussex and its
affiliates operate 64 hotels, resorts and casinos in 28 states and
overseas, including the Lighthouse Point Casino in Greenville,
Mississippi, the Horizon Casino Resort in South Lake Tahoe and the
Westin Casuarina property on Grand Cayman Island. It has also
recently opened the Westin Casuarina in Las Vegas, and purchased the
River Palms Casino in Laughlin,
Nevada
Station Casinos, Inc. Comments on Department of Interior's Notice of Decision
to Place Land in Trust for Gun Lake Tribe
5/13/05 - Las Vegas - CASINO NEWS - Wire - Station Casinos, Inc.
(NYSE:STN) ("Station" or the "Company")
commented today on the U.S. Department of Interior's decision to
issue a Notice of Intent to place land in trust for casino gaming purposes
for the Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians
(commonly known as the Gun Lake Tribe) in Wayland Township,
Michigan. On November 14, 2003, the Company announced that it had
purchased an interest in MPM Enterprises, LLC and entered into a
Development Services Agreement and a Management Agreement with the
Gun Lake Tribe.
"We are very pleased that the
U.S. Department of Interior has decided to take the 145 acre parcel
into trust for the Gun Lake Tribe to use for gaming purposes," said
Glenn Christenson, executive vice president and chief financial
officer, Station Casinos, Inc. "We view this decision as one of the
the final steps in the development of a state-of-the-art casino gaming and
entertainment facility in West Michigan."
"We
congratulate the Gun Lake Tribe and look forward to working with
them in developing and managing their gaming and casino entertainment
project and will work to strengthen the alliance that the tribe has
forged with the local community as we proceed with the development
process," said Christenson.
Company
Information and Forward-Looking Statements - Station
Casinos, Inc. is the leading provider of casino gaming and entertainment to
the residents of Las Vegas, Nevada. Station's properties are
regional entertainment destinations and include various amenities,
including numerous restaurants, entertainment venues, movie
theaters, bowling and convention/banquet space, as well as
traditional casino gaming offerings such as video poker, slot
machines, table games, bingo and race and sports wagering. Station Casinos
owns and operates Palace Station Hotel & Casino, Boulder Station
Hotel & Casino, Santa Fe Station Hotel & Casino, Wildfire
Casino and Wild Wild West Gambling Hall & Hotel in Las Vegas,
Nevada, Texas Station Gambling Hall & Hotel and Fiesta Rancho
Casino Hotel in North Las Vegas, Nevada, and Sunset Station Hotel
& Casino, Fiesta Henderson Casino Hotel, Magic Star Casino and
Gold Rush Casino in Henderson, Nevada. Station also owns a 50%
interest in both Barley's Casino & Brewing Company and Green
Valley Ranch Station Casino in Henderson, Nevada and a 6.7% interest
in the Palms Casino Resort in Las Vegas, Nevada. In addition,
Station manages the Thunder Valley Casino near Sacramento,
California on behalf of the United Auburn Indian
Community.
Development of the proposed
gaming and entertainment project with the Gun Lake Tribe and the
operation of Class III gaming at that project are subject to certain
governmental and regulatory approvals, including, but not limited
to, the governor of the State of Michigan signing the Gun Lake
Tribe's state gaming compact, the Department of the Interior
completing the process of taking land into trust for the benefit of
the Gun Lake Tribe and approval of the management agreement by the
National Indian Casino Gaming Commission. No assurances can be given as to
when, or if, these governmental and regulatory approvals will be
received.
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