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
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