Caesars New Initiative for Minority Businesses

19 April 2004

LAS VEGAS -- (PRESS RELEASE) -- In an effort to increase the participation of minority and women-owned vendors, Caesars Entertainment, Inc. (NYSE: CZR) today launched a new web site intended to make it easier for minority and women-owned firms to do business with one of the world's leading gaming companies.

The new web site, www.caesarsdiversity.com, enables minority and women-owned businesses to communicate quickly and directly with senior Caesars Entertainment procurement officials through a new, one-stop process. The site also offers key information about the company and minority enterprise certification. A direct link to the special supplier web page is featured prominently on Caesars Entertainment's main home page at www.caesars.com.

"Our new web page for minority and women-owned suppliers is the latest in a series of efforts we have undertaken to strongly promote diversity among our customers, our employees, our senior management and our business partners," said Caesars Entertainment President and Chief Executive Officer Wallace R. Barr.

"We are proud of the success we have achieved in building a strong vendor diversity program. Through our active involvement in vendor fairs, diversity purchasing committees and minority and women-owned business organizations, we have demonstrated our commitment to expanding our supplier base," Barr added. "We also work closely with local and state officials in many of our communities to develop closer ties with minority and women entrepreneurs. Now we are taking another important step," Barr said.

Caesars has set a goal of increasing the participation of minority and women-owned business in the company's purchasing to 20 percent, Barr said. Currently, minority and women-owned businesses account for approximately $90 million, or 15 percent, of the company's total annual purchasing of $600 million.

"One of the biggest complaints we hear from minority vendors trying to win contracts is that large companies are not willing to accommodate the needs of smaller suppliers. With the launch of this new web site, we are continuing our efforts to help minority and women-owned vendors cut through the red tape. This site represents an easy-to-find link that directly connects potential suppliers to our procurement department," Barr said.

At the same time, Barr said the company will continue its efforts to promote diversity throughout the rest of its operations. As evidence of the company's continuing progress, Barr cited these statistics:

-Five of the company's 19 domestic casino resorts - or more than 26 percent - are headed by a president or general manager who is a woman, African-American or Asian-American.

-More than 28 percent of the company's 4,557 managers are members of minority groups and more than 41 percent are women.

-About 51 percent of the company's 48,950 domestic employees are minority group members and about 50 percent are women.

-The company in the past year has committed more than $400,000 from its Caesars Entertainment Foundation and other corporate sources to programs specifically aimed at promoting education and economic development among minority groups and women.

-Recipients include: the Urban Chamber of Commerce, the Latin Chamber of Commerce, the United Negro College Fund, the University of Memphis (Tunica, Mississippi), 100 Black Men of Las Vegas, the Nevada Association of Latin Americans, Nevada Hispanic Services, the Women's Foundation of Greater Memphis and the Immigrant Workers Citizenship Project.

"We believe we have made important strides as we work to ensure that our management team, our employee base and our philanthropic commitments reflect the broadly diverse background of the nation as a whole and the communities in which we live and work," Barr said. "We are fully committed to continuing our efforts to meet these important goals."