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Harrah’s & Caesars Confirm Potential Casino Sales

Harrah’s Entertainment, Inc. and Caesars Entertainment, Inc. said today they have been discussing the sale of Harrah’s East Chicago, Harrah’s Tunica, the Atlantic City Hilton and Bally’s Tunica with potential purchasers, including an affiliate of Colony Capital, LLC.

A letter agreement among Harrah’s, Caesars and Colony places certain restrictions on Harrah’s and Caesars for a limited period of time regarding negotiations with other parties with respect to the sale of the properties. Harrah’s and Caesars cautioned, however, that such discussions are in a preliminary stage and there can be no assurance that an agreement will be reached. Neither Harrah’s nor Caesars intends to make any further public announcement unless and until a definitive agreement has been signed.

Founded 66 years ago, Harrah’s Entertainment, Inc. owns or manages through various subsidiaries 28 casinos in the United States, primarily under the Harrah’s brand name. Harrah’s Entertainment is focused on building loyalty and value with its valued customers through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership.