Caesars Consortium Receives Preliminary Approval for First Internationally Branded Casino-Integrated Resort in South Korea

  Caesars Consortium Receives Preliminary Approval for First Internationally
               Branded Casino-Integrated Resort in South Korea

PR Newswire

LAS VEGAS, March 17, 2014

LAS VEGAS, March 17, 2014 /PRNewswire/ -- Caesars Entertainment Corporation
(NASDAQ: CZR) today announced that LOCZ Korea Corporation, a joint venture
between Caesars, Lippo Group and OUE Limited, has received preliminary
approval from the South Korean Ministry of Culture, Sport and Tourism to
include foreigner-only casino gaming in its planned integrated resort in
Incheon, South Korea.

Preliminary rendering of a proposed internationally branded casino resort in
Incheon, South Korea.

"We are grateful to the Korean government for their initial approval, paving
the way for the opportunity to build and operate our first integrated resort
in Korea," said Gary Loveman, Caesars Entertainment Chairman, CEO and
President. "We are excited about the opportunity to expand our network and
brands to Asia. Foreign visitation to South Korea has grown significantly, and
we look forward to creating a world-class destination to further support
Korea's economic growth and tourism goals."

Highlights for the planned integrated resort include hotels and resort
amenities, live entertainment venues, a standalone convention center and a
foreigners-only casino. A preliminary master plan anticipates potential future
expansion to accommodate growth in the number of resort visitors.

The consortium hopes to open the Incheon integrated resort in time to welcome
visitors arriving in Korea for the 2018 Olympics in Pyeongchang.

Caesars may elect to include Caesars Growth Partners, LLC in the development
of the project.Caesars Growth Partners, LLC is a joint venture between
Caesars Entertainment and Caesars Acquisition Company (NASDAQ: CACQ). In such
an event, Caesars anticipates that Caesars Growth Partners would make the
capital investment associated with the project, with Caesars Entertainment
acting as the operator and sharing in the management fee associated with the
project.

About Caesars Entertainment

Caesars Entertainment Corporation is the world's most geographically
diversified casino-entertainment company. Since its beginning in Reno, Nevada,
75 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 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. We are
committed to environmental sustainability and energy conservation and
recognize the importance of being a responsible steward of the environment.
For more information, please visit www.caesars.com.

Forward Looking Information

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," "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 and the above-referenced
projects. 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 and the above-referenced projects 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 Caesars' reports filed with
the Securities and Exchange Commission (including the sections entitled "Risk
Factors" and "Management's Discussion and Analysis of Financial Condition and
Results of Operations" contained therein):

  othe ability of Caesars, Lippo and other potential investors in the project
    to reach agreement on the definitive terms governing their relationship
    and the project's ability to satisfy the conditions of the preliminary
    approval;
  othe impact of Caesars' significant indebtedness;
  othe ability to secure and the terms of any regulatory approvals, including
    gaming and antitrust approvals required to operate any portion of the
    above-referenced project and the regulatory approvals and permits
    necessary to complete the construction and development of the
    above-referenced project;
  othe effects of local and national economic, credit, and capital market
    conditions on the economy, in general, and on the gaming industry, in
    particular;
  oaccess to available and reasonable financing on a timely basis and the
    ability to comply with any conditions to funding under the financing for
    the above-referenced project;
  ochanges in laws, including increased tax rates, smoking bans, regulations
    or accounting standards, third-party relations and approvals, and
    decisions, disciplines, and fines of courts, regulators, and governmental
    bodies, including those related to the above-referenced projects;
  othe effects of competition, including locations of competitors and
    operating and market competition;
  oconstruction factors, including delays, increased costs of labor and
    materials, availability of labor and materials, zoning issues,
    environmental restrictions, soil and water conditions, weather and other
    hazards, site access matters, and building permit issues;
  olitigation outcomes and judicial and governmental body actions, including
    gaming legislative action, referenda, regulatory disciplinary actions, and
    fines and taxation;
  othe effects of environmental and structural building conditions relating
    to the above-referenced project;
  oaccess to insurance on reasonable terms for Caesars' assets and the
    above-referenced project; and
  oacts of war or terrorist incidents, severe weather conditions, uprisings,
    or natural disasters.

Any forward-looking statements are made pursuant to the Private Securities
Litigation Reform Act of 1995 and, as such, speak only as of the date
made.Caesars disclaims any obligation to update the forward-looking
statements. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date stated or, if no
date is stated, as of the date of this press release.

Preliminary rendering of a proposed internationally branded casino resort in
Incheon, South Korea.



Caesars Entertainment Corporation logo.



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SOURCE Caesars Entertainment Corporation

Website: http://www.caesars.com
Contact: Gary Thompson - Media, Caesars Entertainment Corporation, (702)
407-6529, or Jennifer Chen - Investors, Caesars Entertainment Corporation,
(702) 407-6407
 
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