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Caesars Entertainment submits bid for license to operate video lottery terminal facility in City of Baltimore26 September 2011LAS VEGAS, Nevada -- (PRESS RELEASE) -- Caesars Entertainment Corporation ("Caesars") today announced it has filed an application with the State of Maryland for the license to operate a video lottery terminal facility in Baltimore City. The application was filed on behalf of a venture that includes Caesars as the lead investor and facility manager, CVPR Gaming Holdings, LLC; Rock Gaming, LLC; and The Stronach Group. Caesars owns, operates or manages 52 casinos in 12 states and seven countries. Most of the company's properties are located in the United States and operate under a variety of brand names including Harrah's, Caesars and Horseshoe. Caesars also operates the casino industry's largest customer loyalty program, Total Rewards, which has more than 40 million members. "We are pleased to present the State of Maryland with a uniquely qualified team of professionals to consider for its license to operate a video lottery terminal facility in the City of Baltimore," said Caesars Entertainment Chairman, President and Chief Executive Officer Gary Loveman. "We look forward to the opportunity to build on our collective commitment to revitalizing urban markets nationwide through the creation of a world-class casino entertainment experience in Baltimore." CVPR Gaming Holdings is a venture including Baltimore-based Caves Valley Partners, LLC, and Rodgers Legacy II, LLC, an affiliate of A&R Development Corporation. Caves Valley Partners, LLC, is chaired by Anthony W. Deering, the former chief executive officer of The Rouse Company, which developed and operated a nationwide portfolio of landmark urban projects such as Harborplace & The Gallery in Baltimore, Faneuil Hall in Boston and Bayside Marketplace in Miami. Rodgers Legacy is one of the investment holding affiliates of A&R Development Corp., founded by Theo C. Rodgers, one of Baltimore's most prolific developers. Its considerable portfolio includes a wide range of residential, commercial and mixed-use developments with an aggregate value of nearly $1 billion. Rock Gaming and Caesars are developing two full-service urban casinos in Cincinnati and Cleveland. In November 2009, Rock Gaming successfully backed a state constitutional amendment bringing casino gaming to Ohio. The Stronach Group is a privately-held consortium that owns, operates and manages a number of leading businesses in a wide range of industries, including electric vehicle mobility, real estate, medical, information technologies and agri-business. In addition, The Stronach Group is one of the world's leading owners of thoroughbred horse tracks. It owns and operates a number of preeminent tracks, including Pimlico Race Course, home of the Preakness Stakes. |