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Las Vegas Hilton President Resigns

LAS VEGAS -- (Press Release) -- Gaming industry veteran William Bigelow has submitted his resignation as president of the Las Vegas Hilton, effective February 9, as the property's prospective buyer makes plans to announce its choice to head the resort after the sale closes.

Bigelow, who began his gaming career at the Las Vegas Hilton in 1980, previously served as president of the Flamingo Laughlin and vice president and general manager of the Flamingo Las Vegas.

"As the prospective buyer of the Las Vegas Hilton prepares to announce its choice for a new president, I concluded that it was time for me to move on to new challenges," Bigelow said. "I've had a long and exciting career with Caesars Entertainment and its predecessor companies - Park Place Entertainment and Hilton gaming - and I'll be looking at a number of opportunities in the weeks ahead. Caesars Entertainment and I are ending our relationship on the very best of terms."

Caesars Entertainment Senior Vice President Anthony F. Santo, who heads the company's Western and Mid-South regions, said Bigelow "led the Las Vegas Hilton with great distinction during challenging times. His service was very much appreciated by the company and the staff of the Hilton."

"We were anxious to find other opportunities to put Bill's talents to work," Santo added, "but none were available in Clark County, where Bill has decided to stay." Santo will assume the position of interim president at the Las Vegas Hilton until the sale closes.

Caesars Entertainment announced on December 24, 2003 that it had entered into a definitive agreement to sell the Las Vegas Hilton to an affiliate of Colony Capital, LLC, a Los Angeles based international private investment firm, for approximately $280 million.

The transaction is expected to close by the end of the second quarter of 2004 and is subject to customary closing conditions outlined in the purchase agreement.

Caesars Entertainment, Inc. (NYSE: CZR) is one of the world's leading gaming companies. With $4.5 billion in annual net revenue, 29 properties on four continents, 29,000 hotel rooms, two million square feet of casino space and 54,000 employees, the Caesars portfolio is among the strongest in the industry. Caesars casino resorts operate under the Caesars, Bally's, Flamingo, Grand Casinos, Hilton and Paris brand names. The company has its corporate headquarters in Las Vegas.

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