ATLANTIC CITY, N.J., Sept. 18, 2015 /PRNewswire/ -- Caesars Entertainment Corporation officially opened on Thursday, September 17th its Waterfront Conference Center at Harrah's Resort Atlantic City. The $125.8 million center's grand opening was celebrated with a ribbon cutting, fireworks and customer event. The Harrah's Waterfront Conference Center has already booked meetings and conventions through 2019. Harrah's Resort Atlantic City is an indirect subsidiary of Caesars Entertainment Corporation (NASDAQ: CZR).
Caesars Entertainment officially opened Harrah's Atlantic City Waterfront Conference Center on Thursday, September 17th with a ribbon cutting ceremony. L-R: Michael Massari, Senior Vice President for National Meetings and Events, Caesars Entertainment; Mayor Donald A. Guardian (R), Mayor of Atlantic City; Senator Stephen M. Sweeney (D), Senate President, New Jersey's Third Legislative District; Gary Loveman, Caesars Entertainment Chairman; Mark Frissora, Caesars Entertainment President and CEO
Mark Frissora, Caesars Entertainment President and CEO announces the grand opening of Harrah's Atlantic City Waterfront Conference Center on Thursday, September 17th
Mark Frissora, Caesars Entertainment President and CEO shakes hands with John F. Palmieri, Executive Director, Casino Reinvestment Development Authority (CRDA) at the grand opening of Harrah's Atlantic City Waterfront Conference Center on Thursday, September 17th
Caesars Entertainment officially opened Harrah's Atlantic City Waterfront Conference Center on Thursday, September 17th
Due to the addition of the conference center, there has been an increase of 90,000 advance room bookings for the upcoming 12 months at Harrah's Resort Atlantic City, compared to 7,000 advance room bookings for the previous 12 months. The 97 confirmed meetings to date include Bradley Caldwell, Rita's Italian Ice and Meeting Professionals International's 2016 World Education Congress.
The investment in the Harrah's Waterfront Conference Center comes at a time when there is significant demand for meetings facilities in the Northeast and no clear leader to serve the business traveler's needs. The 100,000 square foot state-of-the-art facility is now the largest conference-hotel complex from Baltimore to Boston, providing an attractive new option for the $280 billion national meetings industry that has a $16 billion foothold in the Northeast.
"The Waterfront Conference Center demonstrates our commitment to the revitalization of Atlantic City through major developments and investments in the booming meetings business," said Mark Frissora, President and CEO of Caesars Entertainment Corporation. "For Atlantic City, this is an opportunity to attract a new type of customer to the city and significantly increase hotel occupancy, as well as drive revenue for local restaurants, retail outlets and other businesses."
Designed by Friedmutter Group and located in Atlantic City's Marina District, the Harrah's Waterfront Conference Center can accommodate up to 5,000 attendees and has the flexibility to seamlessly convert from meetings, to banquets, to large assembly spaces. The 100,000 square feet of flexible meetings space offers versatile area volume that can be broken down into 56 separate small meeting rooms with up to 300 different configurations – reception, banquet and pre-function space.
"We are excited to introduce Harrah's Resort Atlantic City Waterfront Conference Center as a major player in not only the Northeast, but the national meetings business," said Michael Massari, Senior Vice President of National Meetings and Events for Caesars Entertainment Corporation. "The state-of-the-art center is conveniently located within driving distance of one-third of the nation's population. Now, these convention goers can meet, eat and sleep all under one roof in a facility accompanied with dynamic hospitality offerings and amenities."
About Meetings and Events at Caesars Entertainment
Caesars Entertainment offers meeting and event planners one dedicated team, united nationwide, committed to providing the most successful meeting experiences possible. With one call or email, planners have access to 40 properties in 20 unique destinations, with 1.9 million sq. ft. of meeting space and more than 42,000 guest rooms. Mix and match properties and venues within a destination under a single contract and minimum. Enjoy elite perks, rewards and privileges with our Total Rewards Meeting Diamond Program. For more information, please visit www.CaesarsMeansBusiness.com.
About Caesars Entertainment Corporation
Caesars Entertainment Corporation (CEC) is the world's most diversified casino-entertainment provider and the most geographically diverse U.S. casino-entertainment company. CEC is mainly comprised of the following three entities: the majority owned operating subsidiary Caesars Entertainment Operating Company, wholly owned Caesars Entertainment Resort Properties and Caesars Growth Properties, in which we hold a variable economic interest. Since its beginning in Reno, Nevada, 75 years ago, CEC has grown through development of new resorts, expansions and acquisitions and its portfolio of subsidiaries now operate 50 casinos in 13 U.S. states and five countries. The Company's resorts operate primarily under the Caesars®, Harrah's® and Horseshoe® brand names. CEC's portfolio also includes the London Clubs International family of casinos. CEC 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. The Company is committed to environmental sustainability and energy conservation and recognizes the importance of being a responsible steward of the environment. For more information, please visit www.caesars.com.
Forward-Looking Statements
This release includes "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations and projections about future events.
Investors are cautioned that forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that cannot be predicted or quantified, and, consequently, the actual performance of Caesars may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the following factors, as well as other factors described from time to time in the Company's reports filed with the Securities and Exchange Commission (including the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained therein):
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 of the Company's 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 effects of competition, including locations of competitors and operating and market competition;
zoning issues, environmental restrictions, soil and water conditions, weather and other hazards, site access matters, and building permit issues;
judicial and governmental body actions, including gaming legislative action, referenda, regulatory disciplinary actions, and fines and taxation; and
acts of war or terrorist incidents, severe weather conditions, uprisings, or natural disasters;
Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. Caesars disclaims any obligation to update the forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated or, if no date is stated, as of the date of this press release.
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