LAS VEGAS, July 16, 2018 /PRNewswire/ -- Caesars Entertainment Corporation (NASDAQ: CZR), the world's most diversified gaming and entertainment company, broke ground today on their newest development – CAESARS FORUM, a $375 million, 550,000 square-foot conference center in Las Vegas. Caesars Entertainment is an undisputed leader in the meetings industry having hosted more than 1.9 million meeting participants, 1.6 million room nights with 17,300 meetings and events in 2017 alone.
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Redefining the offerings for meetings and events in Las Vegas, CAESARS FORUM will be the first facility of this size built on one level and will feature the two largest pillarless ballrooms in the world, equivalent to twenty-seven tennis courts or three ice hockey rinks. It will also feature FORUM Plaza, the first 100,000 square foot outdoor meeting and event space in Las Vegas. Designed as a multi-functional space, FORUM Plaza allows planners to host receptions, meetings and live entertainment with the Las Vegas Strip as the backdrop. The conference center is also within walking distance to more than 20,000 Caesars Entertainment hotel rooms and is adjacent to the LINQ Promenade retail district.
"Caesars Entertainment has eight properties located in the center of the Las Vegas strip – more than any other competitor," said Mark Frissora, President and Chief Executive Officer for Caesars Entertainment. "With our geographic advantage, and the demand for meetings space exceeding available inventory, this project builds on our strategy to provide a value-add to meeting planners, guests and investors."
Today's groundbreaking ceremony took place on the future site of the conference center, located directly behind The LINQ Promenade. For the first time, Caesars Entertainment shared a 360 fly-through experience of the conference center. President and CEO, Mark Frissora was joined on stage by Clark County Commissioner Chris Giunchigliani and other Caesars Entertainment executives for the official groundbreaking.
CAESARS FORUM secured its first booking with the American School Counselor Association in July 2021, which will include 3,500 attendees from all over the U.S. Since then, Caesars Entertainment has gone on to contract over $70 million in conference business for CAESARS FORUM.
The conference center will create 1,000 local construction jobs and more than 450 permanent jobs upon opening in 2020. It will also be globally recognized for its sustainability with a LEED Silver rating. Opening in 2020, CAESARS FORUM will:
This announcement is the latest example of Caesars Entertainment's investment in developing new assets for the meetings industry. This spring, the company announced plans to bring the Caesars brand to two hotels in Dubai's Jumeirah Beach region and to the Puerto Los Cabos region in Mexico – offering conference space in key gateway cities. Last month, the company also broke ground on a new conference center at Harrah's Cherokee in Cherokee, North Carolina. The $200 million conference center and hotel tower will feature a sprawling 83,000 square foot conference space, 725 hotel rooms, along with dining and retail outlets. In 2015, Caesars Entertainment opened Harrah's Waterfront Conference Center, the largest hotel conference complex from Baltimore to Boston.
Caesars Entertainment offers 40 first-class properties nationwide that have 2.1 million square-feet of meeting and event space. In 2017, more than 17,000 meetings and events are hosted annually at Caesars Entertainment, with more than 1.9 million participants nationwide. For more information, visit www.CAESARSFORUM.com.
About Caesars Entertainment
Caesars Entertainment is the world's most diversified casino-entertainment provider and the most geographically diverse U.S. casino-entertainment company. Since its beginning in Reno, Nevada, in 1937, Caesars Entertainment has grown through development of new resorts, expansions and acquisitions and its portfolio of subsidiaries now operate 47 casinos in 13 U.S. states and five countries. Caesars Entertainment's resorts operate primarily under the Caesars®, Harrah's® and Horseshoe® brand names. Caesars Entertainment's portfolio also includes the Caesars Entertainment UK family of casinos. Caesars Entertainment 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. Caesars Entertainment 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 Meetings and Events at Caesars Entertainment Corporation
The world's most geographically diversified casino-entertainment company, Caesars Entertainment offers meeting and event planners one dedicated team, united nationwide, committed to providing the most successful meeting experiences possible. With one call or email, planners have access to nearly 40 properties in 20 unique destinations, with 2.1 million square feet of meeting space and more than 40,000 guest rooms. Mix and match properties and venues within a destination under a single contract and minimum. Enjoy elite perks, rewards and privileges with our Total Rewards Meeting Diamond Program. For more information, please visit www.CaesarsMeansBusiness.com and www.CAESARSFORUM.com.
SOURCE Caesars Entertainment