Caesars Entertainment to Invest $400 Million Into Its Atlantic City Resorts By 2023

Rhea-AI Summary

Caesars Entertainment has announced a $400 million investment plan to enhance its three Atlantic City resorts: Caesars, Harrah's Resort, and Tropicana. The multi-year project includes room renovations worth $170 million, new dining experiences, and improved gaming facilities, aiming to elevate Atlantic City as a premier tourism destination. The first phase, focusing on room upgrades at Caesars and Harrah's, is set to launch in Summer 2021. This initiative aligns with local economic growth efforts and is expected to create jobs while positioning Caesars for long-term success.

Positive

• Announced a $400 million investment plan to enhance Atlantic City resorts.
• $170 million planned for room renovations at Caesars and Harrah's.
• Expected job creation and economic growth in Atlantic City.
• Enhancements aim to solidify Atlantic City as a top tourism destination.

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• None.

ATLANTIC CITY, N.J., April 21, 2021 /PRNewswire/ -- Caesars Entertainment, Inc. ("Caesars" or the "Company") shared exciting details today on its $400 million master plan investment in Atlantic City where it owns and operates three of the region's preeminent casino destinations – Caesars, Harrah's Resort and Tropicana Atlantic City. The plans include remodeled room towers; freshly appointed interior design elements; enhancements to the casinos' gaming floors; new dining concepts with acclaimed restaurant partners; and many more exciting additions within the next three years. These developments will bolster the City's position as a Las Vegas-style destination market with a focus on revitalizing the world-famous Atlantic City Boardwalk. The first phase of the project, a $170 million renovation of guestroom and suites at Caesars and Harrah's, will debut in Summer 2021.

For renderings, click here

"Building on our rich, 40-year legacy in the market, we are excited to introduce the new Caesars Entertainment to Atlantic City through our $400 million investment and development plan," said Anthony Carano, President and Chief Operating Officer of Caesars Entertainment. "These exciting plans over the next three years will revitalize Caesars' brand of hospitality, and will continue to position Harrah's, Tropicana, and Caesars Atlantic City as leading resorts in the market. We remain bullish on Atlantic City, and this commitment will further position us for long-term growth and success."

"My administration has teamed up with corporate, community and government partners in an effort to reestablish Atlantic City as a premier tourist destination in New Jersey," said Governor Phil Murphy. "This $400 million investment in the city supports our focus on growing the economy, continuing to support Atlantic City, and creating jobs in our state, and I applaud Caesars Entertainment for leading the recovery effort."

"Caesars Entertainment is the country's largest gaming company, and we are thrilled that Atlantic City is home to three of their casinos," said Atlantic City Mayor Marty Small, Sr. "This year marks a new era for the City, and we appreciate Caesars' dedication to the market as the largest employer in Atlantic County. Their three-year reinvestment plan doubles down on this commitment, which will undoubtedly reinvigorate Atlantic City."

$170 million room remodel inspired by Atlantic City's beach and bay:

This summer, Caesars Entertainment will unveil $170 million in room enhancements designed by Interior Image Group at Caesars and Harrah's Resort, beginning with approximately 600 guest rooms and suites in Caesars' Centurion and Ocean Towers, as well as Harrah's Atrium Tower. The towers will offer accommodations with spectacular views and fresh design elements in rooms ranging from 450 to 700 square feet per room.

At Caesars, the designs will feature a modern Roman aesthetic, drawing inspiration from the local Atlantic City scenery, including the beach, ocean and famed Boardwalk. The guest rooms and suites will feature rich hues of blue and cream accent colors, contrasting white and gray tones, and contemporary furniture, including modern bathrooms with oversized showers, mirrors, and signature amenities.

At Harrah's Resort, design inspiration was drawn from the casino's upscale, yet accessible brand of hospitality with rich elements that are fun, lively and vibrant playing off the resort's sophisticated Marina District locale.

Additional details on new hospitality, entertainment, and culinary offerings will be shared in the coming months, subject to New Jersey Division of Gaming Enforcement approval. For more information, please visit www.caesars.com.

About Caesars Entertainment Atlantic City
Caesars Entertainment owns and operates three Las Vegas-style resort destinations in the Atlantic City region, Caesars Atlantic City, Harrah's Resort Atlantic City and Tropicana Atlantic City. From Atlantic City's world-famous beach and Boardwalk to the Marina District bay, Caesars Entertainment's world-class casinos and hotels offer guests unparalleled amenities and experiences, including celebrity chef restaurants, nightlife, shopping, and entertainment, delivered with impeccable service. Home to the country's premier loyalty card program of its kind, Caesars Rewards, customers have more ways to play, earn, and redeem rewards at over 50 Caesars Rewards destinations across the country in cities such as Las Vegas, New Orleans, Lake Tahoe and more. To learn more about Caesars Entertainment Atlantic City, visit caesars.com/atlantic-city. 

About Caesars Entertainment, Inc.
Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest casino-entertainment company in the U.S. and one of the world's most diversified casino-entertainment providers. Since its beginning in Reno, Nevada, in 1937, Caesars Entertainment has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment's resorts operate primarily under the Caesars®, Harrah's®, Horseshoe® and Eldorado® brand names. Caesars Entertainment offers diversified amenities and one-of-a-kind destinations, with a focus on building loyalty and value with its guests through a unique combination of impeccable service, operational excellence and technology leadership. Caesars Entertainment is committed to its Team Members, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. For more information, please visit www.caesars.com/corporate.

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SOURCE Caesars Entertainment, Inc.

FAQ

What is Caesars Entertainment's recent investment in Atlantic City?

Caesars Entertainment announced a $400 million investment plan to enhance its three Atlantic City resorts.

When will the room renovations at Caesars and Harrah's be completed?

The first phase of renovations, costing $170 million, is set to debut in Summer 2021.

How will the investment impact the local economy in Atlantic City?

The investment is expected to create jobs and support economic growth in Atlantic City.

What are the main features of the new investment plan by Caesars Entertainment?

The plan includes remodeled rooms, new dining options, and enhancements to gaming facilities.