Caesars Tahoe Aquired By Columbia Sussex - Sunday 12th of June 2005

Columbia Sussex Corporation, owner, developer and operator of more than 60 hotels, resorts and casinos worldwide, acquired Caesars Tahoe casino and resort from Caesars Entertainment Inc.

Columbia Sussex took control of the property on Friday, June 10, following approvals from the Nevada Gaming Control Board and the Nevada Gaming Commission. With the purchase of Caesars Tahoe, Columbia Sussex Corporation hopes to enliven the South Shore of Lake Tahoe by providing amenities, entertainment and overall accommodations unlike anything in the area."This acquisition provides us with the opportunity to create a resort that is unique to Lake Tahoe," said William Yung, president of Columbia Sussex Corporation. "We plan to reposition the property to appeal to a larger customer base than it previously attracted."

Columbia Sussex will continue to accept the Caesars Tahoe player's club card (The Connection Card). Current comp points and cashback balances will be honored.The property will continue to operate as Caesars Tahoe during the renovation process which is expected to be complete in early 2006. The property will be renamed at that time.Columbia Sussex closed last week on a deal for the Bally's Casino New Orleans. That acquisition provides a great opportunity in the New Orleans market where significant improvements to the property will also be made.About Columbia SussexColumbia Sussex and its affiliates are one of the largest privately held hotel owners in the country, and one of Marriott Corporation's top licensees.

Columbia Sussex and its affiliates operate 64 hotels, resorts and casinos in 28 states and overseas, including the Lighthouse Point Casino in Greenville, Mississippi, the Horizon Casino Resort in South Lake Tahoe and the Westin Casuarina property on Grand Cayman Island. It has also recently opened the Westin Casuarina in Las Vegas, and purchased the River Palms Casino in Laughlin, Nevada.

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