Umbennennung von Park Place Entertainment in Caesars Entertainment

15.07.2003, Seeking to leverage the broad-based strength of the best-known brand in the casino resort industry, Park Place announced on July 15, 2003, that it plans to rename the company Caesars Entertainment, Inc Pending shareholder and regulatory approval, the new name would go into effect in January 2004.

It's official: Park Place to become Caesars Entertainment in January 2004; Shareholders overwhelmingly approve name change at special meeting.

LAS VEGAS (BUSINESS WIRE) Sept. 10, 2003--By an overwhelming margin, shareholders of Park Place Entertainment Corporation (NYSE:PPE) today formally approved management's recommendation to change the name of the company to Caesars Entertainment, Inc.

The change is scheduled to take effect in January 2004, when the company will begin trading on the New York Stock Exchange under its new ticker symbol (NYSE:CZR). More than 99 percent of the nearly 285 million votes cast at a special shareholders meeting today at Caesars Palace supported the name change.

"This is an historic day for our company and our shareholders," said Park Place President and Chief Executive Officer Wallace R. Barr. "Today's vote represents a strong endorsement of our Caesars brand strategy. Our shareholders know the strength of the Caesars name and the recognition and respect that it commands around the world."

That recognition and respect already has played an important role in helping open negotiations for several new casino projects, Barr said. Two of the company's recently disclosed development proposals - in Illinois and Minnesota - involve Caesars-branded casinos.

In addition, Barr said the company will benefit from a new, multi-million-dollar brand image advertising campaign recently launched for the company's flagship casino, Caesars Palace.

When the name change becomes official, Caesars Entertainment immediately will take its place as one of the world's leading gaming companies. With one of the world's most recognizable names, the company will comprise 29 casino resorts in five countries on four continents, $4.7 billion in annual net revenue, two million square feet of gaming space, 29,000 hotel rooms and 54,000 employees.

In addition to Caesars, the company owns many other well-known casino brands, including Bally's, Flamingo, Grand Casinos, Hilton casinos and Paris Las Vegas.

Customers won't see any visible differences at their favorite resorts, Barr said.

"The name change is designed to strengthen the parent company, not in any way change the close relationships that our branded properties have developed over the years with their loyal guests," he added.

About Park Place Entertainment

Park Place Entertainment Corporation (NYSE: PPE) is one of the world's leading gaming companies. Park Place owns, manages or has an interest in 29 gaming properties operating under the Caesars, Bally's, Flamingo, Grand Casinos, Hilton and Paris brand names with a total of approximately two million square feet of gaming space, 29,000 hotel rooms and 54,000 employees worldwide. The company plans to change its name to Caesars Entertainment, Inc. in January 2004, when it will begin trading under the new ticker symbol (NYSE:CZR).

Additional information on Park Place Entertainment can be accessed through the company's web site at www.parkplace.com .

Media Contacts:
Park Place Entertainment Corporation, Las Vegas Robert W. Stewart, 702-699-5043 (Media) stewartr@parkplace.com Josh Hirsberg, 702-699-5269 (Investors) hirsbergj@parkplace.com

Über Caesars Palace:

Das Caesars Palace ist ein Hotel und Casino in Las Vegas USA. Es ist im Stil eines antiken römischen Palastes errichtet.

Das luxuriöse Hotel am Las Vegas Boulevard besitzt 3'348 Gästezimmer und Suiten. Säulen, Statuen und Wasser-Fontänen prägen das Erscheinungsbild. Das im Hotel integrierte Spielcasino belegt eine Fläche von etwa 12'000 Quadratmeter. Die Forum Shops, ein grosses Einkaufszentrum mit exklusiven Geschäften, und ein Schwimmbad-Bereich mit vielen Säulen und Marmor gehören zu dem Komplex.

Caesars Palace is a modern wonderland of luxury and excitement and is widely recognized among the world's greatest hotels. Located at the heart of the world famous Las Vegas Strip.In addition, Caesars Palace is home to the Garden of the Gods, a 4.5-acre pool complex and a world-class 22,000 sq. foot fitness center and spa.

The Forum Shops at Caesars and The Appian Way are two extraordinary collections of exquisite stores, restaurants and family entertainment set in an ancient Roman marketplace. While the hotel itself features 8 restaurants onsite, The Forum Shops offer another 14 restaurants, as well.

Das Casino gehört zu Caesars Entertainment. Caesars Entertainment Inc. wurde 1937 als Harrah's gegründet und wurde 2010 in Caesars Entertainment umbenannt. Besitzer sind die Investment-Firmen Apollo Global Management, TPG Capital und The Blackstone Group.

--- Ende Artikel / Pressemitteilung Umbennennung von Park Place Entertainment in Caesars Entertainment ---


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