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Caesars Entertainment and Gamblit in Agreement to Bring Innovative Skill-Based Casino Games to Properties in the Caesars Network - Sep 7, 2016

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Caesars Entertainment and Gamblit in Agreement to Bring Innovative Skill-Based Casino Games to Properties in the Caesars Network
Caesars Expects to Debut Gamblit Gaming Positions in October
Companies Plan to Install More than 200 Positions in 2017 Across Caesars' Footprint

LAS VEGAS, Sept. 7, 2016 /PRNewswire/ -- Caesars Entertainment Corporation (NASDAQ:CZR), the world's most diversified gaming and entertainment company, and Gamblit Gaming, the leading publisher for real-money and skill-based gaming for land based casinos, today announced a multi-year agreement pursuant to which Caesars will be the first casino operator to bring Gamblit's innovative, skill-based gaming positions to market. Beginning in October, Caesars plans to bring Gamblit's Model G™ and Tristation™ positions to Southern California, and install positions in Caesars' Nevada properties and other markets shortly thereafter. The companies expect these to be the first skill games and positions to hit the California and Nevada markets.

Caesars Entertainment Corporation logo.

Caesars and Gamblit plan to debut the positions at Harrah's Rincon in Southern California. Each gaming position will contain multiple themes and cutting-edge skill-based games, including a Match 3 game and word matching game. Future releases on Gamblit's gaming positions include popular "gamblified" versions of hit #1 smash video games Catapult King, which gained over 35 million downloads, and INTO THE DEAD, which has over 60 million downloads. The new games will be available on Model G™ interactive tables and Tristation™ gaming stations in dedicated entertainment spaces at destinations owned or operated by the Caesars group of companies.

Caesars also plans to field trial Gamblit's positions in its Nevada properties, including Las Vegas, pending regulatory approval. After the field trial, Caesars anticipates deployment of 125 Gamblit gaming positions into multiple Nevada properties. Caesars and Gamblit hope to introduce more than 100 positions into additional markets beginning in early 2017 and expand the presence of these games across the Caesars network.

"Our agreement with Gamblit and the introduction of their skill-based gaming positions to our casinos are key milestones in our gaming innovation strategy and demonstrate progress towards creating the 'Casino of the Future,'" said Mark Frissora, President and Chief Executive of Caesars Entertainment. "Caesars is proud to be first to bring these innovative games to our customers, and we plan to make skill-based games an increasingly important part of the gaming floors."

As the leading innovator of real money and skill gaming, Gamblit Gaming develops and publishes a wide variety of games that bring a casual, arcade sense of fun and skill into the casino market. Gamblit Gaming also works closely with top game developers to gamblify and publish their hit games into new markets, tapping into the lucrative revenue streams of land-based casinos. The company also helps casino operators deliver a new entertainment experience to not only attract new players, but retain existing players. Through Gamblit Gaming, casino operators can compete on innovation while driving growth and revenue.

"We are excited about our relationship with Caesars, who shares our vision of providing an entirely new type of gaming for their customers. We wanted to start our landmark transformation of gaming with Caesars Entertainment as their forward thinking strategy, innovative moves and wide reaching influence among consumers perfectly aligns with our objective to revolutionize the casino floor," said Eric Meyerhofer, CEO at Gamblit Gaming. "We can't wait to bring fresh, new content to life at Caesars locations throughout the U.S., offering fun, social and interactive skill based wagering gameplay," added Darion Lowenstein, Chief Marketing Officer of Gamblit Gaming.

"Gamblit's product is unlike anything seen on casino floors today. Both the positions and the engaging games themselves are sleek, competitive and social, providing a unique opportunity for players to compete head-to-head, play together against the house, or in single-player games in a differentiated gaming experience," said Melissa Price, Senior Vice President of Gaming at Caesars Entertainment. "Together, Caesars and Gamblit are changing the gaming industry, bringing the social and competitive spirit of online gaming to casinos."

About Caesars Entertainment

Caesars Entertainment Corporation (CEC) is the world's most diversified casino-entertainment provider and the most geographically diverse U.S. casino-entertainment company. CEC is mainly comprised of the following three entities: the majority owned operating subsidiary Caesars Entertainment Operating Company, wholly owned Caesars Entertainment Resort Properties and Caesars Growth Properties, in which we hold a variable economic interest. Since its beginning in Reno, Nevada, 75 years ago, CEC has grown through development of new resorts, expansions and acquisitions and its portfolio of subsidiaries now operate 50 casinos in 13 U.S. states and five countries. The Company's resorts operate primarily under the Caesars®, Harrah's® and Horseshoe® brand names. CEC's portfolio also includes the London Clubs International family of casinos. CEC is focused on building loyalty and value with its guests through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership. The Company is committed to environmental sustainability and energy conservation and recognizes the importance of being a responsible steward of the environment. For more information, please visit www.caesars.com.

About Gamblit Gaming

Gamblit Gaming is the leading technology provider of real money and skill gaming in video games, enabling a wide range of game genres to accommodate gambling experiences in online and on-site deployments worldwide. Gamblit's platform provides all essential regulated technology, customer operations, and licenses; freeing up game developers, publishers, and casino operators to focus on making the best possible game experience for their players. Founded with the goal of bridging the gap between games and gaming, Gamblit's executive team has deep roots in both industries.

Forward Looking Information

This release includes "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. We have based these forward-looking statements on our current expectations about future events. Further, these statements contain words such as "may," "would," "plan," "will," "expect," or "believe," or the negative or other variations thereof or comparable terminology. In particular, they include statements relating to, among other things, future actions, new projects, strategies, future performance, the outcomes of contingencies, such as legal proceedings, the restructuring of CEOC, and future financial results of Caesars. These forward-looking statements are based on current expectations and projections about future events.

Investors are cautioned that forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that cannot be predicted or quantified, and, consequently, the actual performance of Caesars may differ materially from those expressed or implied by such forward-looking statements. 

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SOURCE Caesars Entertainment Corporation

For further information: Rich Broome - Media, Caesars Entertainment Corporation, (702) 407-6476; Brian Blackman - Investors, Caesars Entertainment Corporation, (702) 407-6330; Karina St. Jean / Amy Pandya, Rogers & Cowan for Gamblit Gaming, 310.854.8112 / 310.854.8262, kstjean@rogersandcowan.com, apandya@rogersandcowan.com