Caesars Names Steven N. Rosen Interim President of Flamingo Las Vegas.
A 20-year veteran of the gaming industry, Rosen during his career has served in positions of increasing responsibility at casino organizations in New Jersey, Mississippi and Nevada.
"Steve Rosen is a creative, proven executive who will successfully guide the operation of the legendary Flamingo through the closing of our merger with Harrah's Entertainment," said Caesars President and Chief Executive Officer Wallace R. Barr. "With Steve's leadership, our associates at the Flamingo will continue their tradition of providing the world's best customer service."
Barr complimented Creighton's work for the company, which began in 1995 when he was named senior vice president and general manager of Bally's New Orleans. An Iowa native, Creighton earlier served as a casino executive, a judge, a staff member for the Iowa Gaming Commission and executive director of the Mississippi Gaming Commission.
"Lorenzo Creighton has a distinguished record of service to Caesars Entertainment. We thank him for his hard work and dedication to the company and its associates, and we wish him the very best in his future endeavors," Barr said.
Rosen joined Caesars Entertainment as a marketing executive when the company was created as Park Place Entertainment in December 1998. Earlier, he was senior vice president of corporate marketing for Grand Casinos, which was acquired by Park Place. Prior to joining Grand Casinos, he held posts at Caesars Palace in Las Vegas and Harrah's Casino Hotel in Atlantic City.
Located at the heart of the Las Vegas Strip, at the intersection of Las Vegas Boulevard and Flamingo Road, the world-famous Flamingo Las Vegas boasts nearly 3,500 guest rooms and some of the most exciting gaming action in the world.
About Caesars Entertainment
Caesars Entertainment, Inc. (NYSE:CZR) is one of the world's leading gaming companies. With annual revenue of $4.2 billion, 27 properties on four continents, 26,000 hotel rooms, two million square feet of casino space and 50,000 employees, the Caesars portfolio is among the strongest in the industry. Caesars casino resorts operate under the Caesars, Bally's, Flamingo, Grand Casinos, Hilton and Paris brand names. The company has its corporate headquarters in Las Vegas.
The company's Board of Directors in July 2004 accepted an offer from Harrah's Entertainment, Inc. to acquire the company for approximately $1.9 billion in cash and 67.7 million shares of Harrah's common stock. Shareholders of both companies approved the merger in separate meetings on March 11. The transaction is contingent on approval by federal and state regulatory agencies and is expected to close in the second quarter of 2005.
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 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 all financial projections, including projections of revenue, market share, earnings, EBITDA, free cash flow, statements of management's plans, objectives or expectations of future economic performance, statements regarding new developments or opportunities, asset dispositions, statements of belief, and/or statements regarding various programs and initiatives including capital programs, cost savings, debt reduction, customer marketing and anticipated construction, development, or acquisitions. 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 for the year ended December 31, 2004. 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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|Date:||Mar 23, 2005|
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