Park Place Chosen to Develop Caesars-Brand Casino

The Pauma-Yuima Band of Mission Indians has selected Park Place Entertainment Corporation (NYSE:PPE) to negotiate agreements to develop and manage a Caesars-branded casino on tribal lands near Pauma Valley in Southern California.
The results of a tribal vote naming Park Place as the Tribe`s preferred partner were announced by Tribal Chairman Chris Deevers.
“The Pauma Tribe is excited about the opportunity to work with Park Place to create a casino resort that the Tribe and the community can be proud of,” Deevers said.
Preliminary plans call for development of “Caesars Pauma” on more than 30 acres of tribal land on California Highway 76, off Interstate 15, just south of Temecula. The $250-million-plus destination resort would include approximately 500 hotel rooms, more than 100,000 square feet of gaming space, a full complement of restaurants and live entertainment venues and a spa.
“We`re pleased and honored that the Pauma Tribe has chosen to partner with Park Place to develop a premier destination resort in Southern California,” said Park Place President and Chief Executive Officer Wallace R. Barr.
“The sovereign tribal lands on which Caesars Pauma would be built are easily accessible for millions of people living in greater Los Angeles and greater San Diego. The scenic setting of the Pauma tribal lands is perfect for a new Caesars resort,” Barr added. “We believe that Park Place and the Caesars brand are uniquely equipped to deliver a world-class casino that will delight guests and help the Tribe achieve its goals for economic development.”
As a result of the tribal vote, Park Place and The Pauma Tribe immediately will begin negotiating detailed development and management agreements. Those agreements must be concluded before construction can begin. The management contract is subject to approval by the National Indian Gaming Commission; other regulatory approvals also are required.