Caesars Hails Sports Betting Decision

LAS VEGAS, May 14, 2018 /PRNewswire/ -- Caesars Entertainment Corporation (NASDAQ: CZR) today applauded the U.S. Supreme Court's decision to strike down the federal Professional and Amateur Sports Protection Act (PASPA), likely leaving regulation to the states. Caesars currently has licensed gaming operations in thirteen states and currently manages a successful legal sports wagering business in Nevada. The company plans to expand its U.S. sports betting business wherever secure and responsible wagering on sporting events is legalized.

Commenting on the ruling, the company's President and CEO, Mark Frissora, said, "The Supreme Court's landmark PASPA ruling creates a golden opportunity to end illegal sports wagering once and for all by creating a well-regulated alternative that sports fans can trust. Caesars is a leader in legalized gaming in the U.S. As a result, we expect to be able to provide safe, exciting sports wagering experiences to consumers across the country, as we do today in Nevada.  We plan to announce our specific approach to this business as we better understand the opportunities and regulations which evolve from today's Supreme Court decision."

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.

Forward-Looking Statements

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 regarding Caesars Entertainment's plans and opportunities with respect to legalized sports wagering in the U.S. 

You are cautioned that forward-looking statements are not guarantees of future performance and involve risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from that expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the extent to which States legalize sports betting in the wake of the Supreme Court's decision regarding PASPA, the effects of new laws and regulations, the company's ability to successfully execute on opportunities that may arise in the sports betting arena and the other factors described from time to time in Caesars Entertainment's 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).

You are cautioned to not place undue reliance on these forward-looking statements, which speak only as of the date of this document. Caesars Entertainment undertakes no obligation to publicly update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events, except as required by law.

SOURCE Caesars Entertainment Corporation