Caesars Entertainment Announces Temporary Shutdown of Network of Properties
Caesars Entertainment Corporation announced that it will temporarily shut down its owned properties in North America, consistent with directives from various government bodies.
“It has become clear that we must take this extreme action to help contain the virus and protect the safety and well-being of our team members and guests,” said Caesars Entertainment CEO Tony Rodio.
Caesars is working to ensure a smooth closing process throughout its network and looks forward to welcoming back team members and guests as soon as appropriate. Caesars recognizes the disruption that these property closures will have on team members and is committed to helping employees manage the impact. An update on property closures throughout the Caesars network can be found at https://www.caesars.com/corporate/newsroom/press-releases.
Caesars has a strong liquidity position with more than $2.8 billion of cash on hand. While the Company believes its current cash position is more than sufficient to fund its obligations, it is also taking appropriate measures to reduce operating and capital expenses, as necessary.
About Caesars Entertainment:
Caesars Entertainment is one of the world’s most diversified casino-entertainment providers 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. 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 its employees, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. For more information, please visit www.caesars.com/corporate.
