Caesars to Develop and Manage California Casino with Big Sandy Band of Western Mono Indians.

Business Editors

LAS VEGAS--(BUSINESS WIRE)--Feb. 18, 2004

The Big Sandy Band of Western Mono Indians has reached a preliminary agreement with Caesars Entertainment, Inc. (NYSE: CZR) to develop and manage a $200-million casino on tribal land near Fresno, California.

The Tribe and Caesars Entertainment recently signed a memorandum of understanding outlining the terms of the development and management agreements that will govern the construction and operation of the casino project. The final agreements are expected to be completed and signed in the next three months.

"It is a great opportunity for the Big Sandy Rancheria Tribal members to reach an agreement with such a bona fide and reputable entertainment management group," said Tribal Chairperson Connie Lewis.

"This project creates a tremendous opportunity for the Big Sandy Tribe to realize its goal of job creation and economic development and affords our shareholders an additional opportunity to participate in the rapidly expanding gaming market in California," said Caesars Entertainment President and Chief Executive Officer Wallace R. Barr. "All of us at Caesars look forward to a long and rewarding relationship with the Big Sandy Tribe."

The company previously announced that it is negotiating development and management agreements with the Pauma-Yuima Band of Luiseno Mission Indians for a casino to be built on Pauma tribal lands in northern San Diego County in Southern California. The company and the Tribe expect to sign final agreements soon.

Preliminary plans for the Big Sandy project call for development of a casino on more than 215 acres 10 miles northeast of Fresno in the San Joaquin Valley in Central California. Included in the acreage is a 40-acre parcel of tribal land where the gaming portion of the facility will be located. The casino would become the second to directly serve the Fresno metropolitan area, which has a population of approximately 1.2 million.

The casino property would initially include 250 to 300 hotel rooms, more than 75,000 square feet of gaming space, at least 2,000 slot machines, approximately 20 gaming tables, restaurants, retail shops and meeting and entertainment facilities. The company and the Tribe are discussing an appropriate brand for the casino.

The Big Sandy Tribe currently operates the Mono Wind Casino in Auberry, California, about 15 miles northeast of the proposed Fresno-area casino.