Columbus Exposition and Racing Contracts With Caesars Entertainment to Develop Casino and Racetrack in Nebraska

Rhea-AI Summary

Caesars Entertainment (NASDAQ: CZR) has partnered with Columbus Exposition and Racing (CER) to develop a Harrah's casino and racetrack in Columbus, Nebraska. This $75 million project will feature a new one-mile horse racing surface, a 40,000-square-foot casino, over 400 slot machines, and 20 table games, expected to open by late 2022. The partnership aims to create a new entertainment destination, boosting the local economy and supporting the horse racing industry in Nebraska. Caesars' experience in gaming is positioned to transform the area's racing tradition.

Positive

• Investment of approximately $75 million in a new casino and racetrack.
• Creation of new jobs and economic development in Columbus, Nebraska.
• Expansion of Caesars' brand presence and gaming experience in Nebraska.

Negative

• None.

COLUMBUS, Neb., July 2, 2021 /PRNewswire/ -- Columbus Exposition and Racing (CER) and Caesars Entertainment, Inc. (NASDAQ: CZR) today announced CER's selection of Caesars Entertainment to build and operate a Harrah's casino and racetrack in Columbus, Nebraska.

"We are excited to welcome Harrah's to Nebraska," said Tom Jackson, Managing Partner of CER. "When looking for a Casino Operator Partner, Harrah's brand recognition and established code of commitment to its employees, customers and the communities in which they operate proved an easy selection. In addition, their superior rewards program and marketing team, high-performing entertainment network and best-in-class gaming experience check all the right boxes for this partnership."

Jackson continues, "As we work to create a new entertainment destination for the Midwest, this partnership will be an important economic driver and job creator for Columbus and the surrounding communities. It also further reinforces our commitment to the hardworking people involved in the Nebraska horse racing industry. We look forward to providing new gaming and entertainment experiences to our valued customers." 

The approximately $75 million casino development, conveniently located off of Highway 81 in Columbus, is expected to feature a new one-mile horse racing surface, a 40,000-square-foot-casino and sportsbook with more than 400 slot machines and 20 table games, as well as a restaurant and retail space. The property is expected to be complete in late 2022.

"When Nebraska voters opened up gaming at racetracks, we knew that our experience in the casino industry combined with our commitment to horse racing made Harrah's a perfect fit," said Tom Reeg, CEO of Caesars Entertainment. "We look forward to creating an all-new Harrah's experience in Columbus and connecting it to our Caesars Rewards network across the country."

"Beyond the onset of casino gaming in Nebraska, we are thrilled with the opportunity to transform horse racing in Columbus," said Joe Morris, SVP of Racing at Caesars Entertainment. "The opportunity to build a new, first-class track at our property illustrates our commitment to the racing industry and our intent to carry on the area's storied racing tradition."

Live Horse Racing has been part of the Columbus community for more than 75 years. CER board members Tom Jackson, Dan Clarey, Russell Placzek, Chad Sucha and Dennis Hall have operated Live Racing and Simulcasting at Ag Park since 2013. Columbus and surrounding counties continue to support Live Racing with Blanket Races sponsored by local businesses, class reunions and memorials.

About Columbus Exposition and Racing, Inc.
Created in 2013, Columbus Exposition and Racing, Inc. (CER) is a not for profit Columbus entity that is dedicated to the future of horse racing in Columbus and Nebraska.

About Caesars Entertainment, Inc.
Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest casino-entertainment company in the US and one of the world's most diversified casino-entertainment providers. Since its beginning in Reno, NV, in 1937, Caesars Entertainment, Inc. has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment, Inc.'s resorts operate primarily under the Caesars®, Harrah's®, Horseshoe®, and Eldorado® brand names. Caesars Entertainment, Inc. offers diversified gaming, entertainment and hospitality amenities, one-of-a-kind destinations, and a full suite of mobile and online gaming and sports betting experiences. All tied to its industry-leading Caesars Rewards loyalty program, the company focuses on building value with its guests through a unique combination of impeccable service, operational excellence and technology leadership. Caesars is committed to its employees, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. Know When To Stop Before You Start.® Gambling Problem? Call 1-800-522-4700. For more information, please visit. www.caesars.com/corporate. 

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SOURCE Caesars Entertainment, Inc.

FAQ

What is the investment amount for the new casino and racetrack in Columbus, Nebraska?

The investment amount for the new casino and racetrack is approximately $75 million.

When is the Harrah's casino and racetrack expected to open?

The Harrah's casino and racetrack is expected to be completed in late 2022.

What features will the new casino and racetrack include?

The new casino and racetrack will feature a 40,000-square-foot casino, over 400 slot machines, 20 table games, and a new one-mile horse racing surface.

How will the partnership benefit the local economy?

The partnership is expected to create new jobs and serve as an economic driver for Columbus and surrounding communities.

What is Caesars Entertainment's plan for the horse racing industry in Nebraska?

Caesars Entertainment plans to transform horse racing in Columbus by building a new, first-class track.