Caesars Announces Closing of New $2 Billion Senior Credit Facility.Business Editors LAS VEGAS--(BUSINESS WIRE)--April 20, 2004 Caesars Entertainment Caesars Entertainment, Inc. is a Las Vegas, Nevada based business that was the largest owner, operator and developer of hotels and casinos throughout the world. Now a wholly owned subsidiary of Harrah's Entertainment it was part of the Hilton Hotels chain and was spun off from , Inc. (NYSE NYSE See: New York Stock Exchange : CZR CZR Columnar Zone Radius CZR Communication Zone Rear (Combat Military Zones) ) today announced that it has closed its new $2 billion senior credit facility. The proceeds from the facility will be used to replace commitments under the company's existing credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities and refinance borrowings outstanding under those credit facilities. About Caesars Entertainment Caesars Entertainment, Inc. (NYSE: CZR) is one of the world's leading gaming companies. With $4.5 billion in annual net revenue, 29 properties on four continents, 29,000 hotel rooms, two million square feet of casino space and 55,000 employees, the Caesars portfolio is among the strongest in the industry. Caesars casino resorts operate under the Caesars, Bally's, Flamingo, Grand Casinos Grand Casinos NYSE: GND was a casino operator that started out managing several casinos in Minnesota in 1990. The company ceased to exist when it was purchased by Hilton Hotels which then merged it with its other gaming properties to form Park Place Entertainment in , Hilton and Paris brand names. The company has its corporate headquarters in Las Vegas. Additional information on Caesars Entertainment can be accessed through the company's web site at www.caesars.com. NOTE: This press release contains "forward-looking statements" within the meaning of the federal securities law, which are intended to qualify for the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. from liability provided there under. All statements which are not historical statements of fact are "forward-looking statements" for purposes of these provisions and are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements include the expected closing date of the transaction, satisfaction of the closing conditions and the use of proceeds. Such results may be impacted by factors outside the company's control. Additional information concerning potential risk factors that could affect the company's future performance are described from time to time in the company's reports filed with the Securities and Exchange Commission, including the company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2003. The reports may be viewed free of charge at the following website: www.sec.gov. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. |
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