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Caesars Entertainment Announces Offering Of 7 Million Shares Of Common Stock

Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include without limitation:

  • the impact of Caesars' substantial indebtedness and the restrictions in Caesars' debt agreements;
  • the effects of local and national economic, credit and capital market conditions on the economy in general, and on the gaming industry in particular;
  • the ability to realize the expense reductions from cost savings programs, including the program to increase Caesars' working capital and excess cash by $500 million;
  • the previously disclosed sale of four of our casino properties to Caesars Growth Partners, LLC ("Caesars Growth Partners") may not be consummated on the terms contemplated or at all;
  • the financial results of Caesars Growth Partners' business;
  • access to available and reasonable financing on a timely basis;
  • the ability of Caesars' customer-tracking, customer loyalty and yield-management programs to continue to increase customer loyalty and same-store or hotel sales;
  • changes in laws, including increased tax rates, smoking bans, regulations or accounting standards, third-party relations and approvals, and decisions, disciplines and fines of courts, regulators and governmental bodies;
  • the ability to recoup costs of capital investments through higher revenues;
  • abnormal gaming holds ("gaming hold" is the amount of money that is retained by the casino from wagers by customers);
  • the effects of competition, including locations of competitors, competition for new licenses and operating and market competition;
  • the ability to timely and cost-effectively integrate companies that Caesars acquires into its operations;
  • the potential difficulties in employee retention and recruitment as a result of Caesars' substantial indebtedness, the ongoing downturn in the gaming industry, or any other factor;
  • construction factors, including delays, increased costs of labor and materials, availability of labor and materials, zoning issues, environmental restrictions, soil and water conditions, weather and other hazards, site access matters and building permit issues;
  • severe weather conditions or natural disasters, including losses therefrom, including losses in revenues and damage to property, and the impact of severe weather conditions on Caesars' ability to attract customers to certain of its facilities, such as the amount of losses and disruption to us as a result of Hurricane Sandy in late October 2012;
  • litigation outcomes and judicial and governmental body actions, including gaming legislative action, referenda, regulatory disciplinary actions and fines and taxation;
  • acts of war or terrorist incidents or uprisings, including losses therefrom, including losses in revenues and damage to property;
  • the effects of environmental and structural building conditions relating to Caesars' properties;
  • access to insurance on reasonable terms for Caesars' assets; and
  • the impact, if any, of unfunded pension benefits under multi-employer pension plans.

These forward-looking statements should, therefore, be considered in light of various important factors set forth above and from time to time in Caesars' filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Caesars undertakes no obligation to publicly update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, except as required by law.

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