(NYSE: CZR) today announced that it has entered into a definitive
agreement to sell its Reno Hilton casino resort to Grand Sierra Resort
Corp . can be
accessed through the company's web site www.

flamingo operate

Schrade, president of Grand Sierra Resort Corp .
Pending regulatory approval, the Navegante Group will operate the
casino at the Reno Hilton pursuant to a casino lease agreement with
Grand Sierra. With annual revenue of $4. The transaction is
contingent on approval by federal and state regulatory agencies and is
expected to close in the second quarter of 2005.

harrah valid

"We will
disclose further details of those plans as we move forward. (NYSE: CZR) is one of the world's
leading gaming companies.com

About the Asian Chamber of Commerce

Established in 1986, the Asian Chamber of Commerce (ACC), formerly
known as the Pacific and Asian American Chamber of Commerce of Nevada,
was formed to serve and represent the professional business interests
of Nevada's growing Asian American community.

An empire is a company or family of companies that operate multiple properties at physically separate locations on the globe.

overseas rollers

plans to reconstruct the property to create the
quintessential entertainment destination, which will include one of
the world's largest indoor water parks. The company has its corporate
headquarters in Las Vegas. The transaction is contingent on
approval by federal and state regulatory agencies and is expected to
close in the second quarter of 2005. In
particular, they include statements relating to, among other things ,
future actions, strategies, future performance, and future financial
results of Caesars and Harrah 's anticipated acquisition of Caesars.

7 million shares of Harrah's
common stock.

globe physically

Caesars Entertainment Agrees to Sell Reno Hilton to Grand Sierra Resort Corp.

grandsierraresort. Caesars disclaims any obligation to
update the forward-looking statements.
"We are pleased to announce our selection of Caesars Entertainment
for the Corporation of the Year Award," said James Yu, president of
the Asian Chamber of Commerce.
Additional information on Caesars Entertainment can be accessed
through the company's web site at www. ACC, a not-for-profit
corporation, was founded with the primary goal of economic growth for
its membership while also becoming a major forum and significant
economic force in bringing about business, social and economic parity
for Nevada's Asian Pacific American community.

capri gambling

com

About Caesars Entertainment

Caesars Entertainment, Inc.
These forward-looking statements are based on current expectations and
projections about future events .

valid memphis

headquarters empire

Oppenheimer + Company is the exclusive
financial advisor to Grand Sierra Resort Corp. Shareholders of both companies approved the merger in
separate meetings on March 11, 2005."
In an effort to make it easier for minority and women-owned
businesses to work with the company, Caesars Entertainment last year
launched a new website www.

Often 'comp-cards' or membership points awarded at one property are valid at another.

fitzgeralds gaming

Grand Sierra
Resort Corp., a Nevada-based company, was formed by a
group of developers and investors who collectively have more than one
hundred years of experience in real estate development, hospitality,
and gaming. Caesars casino
resorts operate under the Caesars , Bally's, Flamingo, Grand Casinos,
Hilton and Paris brand names.
"As a major employer in the city of Las Vegas, we know how
important it is to take a leading role in promoting opportunity for
all members of our community," said Caesars President and Chief
Executive Officer Wallace R. "We are proud of the diversity
initiatives we have implemented in the past few years and we are
deeply honored to be recognized by the Asian Chamber as the
Corporation of the Year," Barr added.2 billion , 27
properties on four continents, 26,000 hotel rooms, two million square
feet of casino space and 50,000 employees, the Caesars portfolio is
among the strongest in the industry.

capri caesars

With nearly 2,000 rooms, ten restaurants, 200,000 square feet of
convention space, a world-class dinner theater and 107,000 square feet
of gaming space with more than 1,300 slot machines, the Reno Hilton is
one of the premier casino resorts in Northern Nevada. You are cautioned not to place
undue reliance on these forward-looking statements which speak only as
of the date stated, or if no date is stated, as of the date of this
press release. Bell will accept the honor at the Asian Chamber of
Commerce's Annual Chinese New Year gala on February 18.
The company's Board of Directors in July 2004 accepted an offer
from Harrah's Entertainment, Inc.

valid operate

Business Editors/Gambling Writers

LAS VEGAS----Caesars Entertainment,
Inc.

empire caesars

The aggregate consideration may be adjusted for changes
in net working capital.

Grand Sierra Resort Corp.
The company's Board of Directors in July 2004 accepted an offer
from Harrah's Entertainment, Inc.

Business Editors/Entertainment Editors

LAS VEGAS----In recognition of its
continued support for the ethnic communities of Las Vegas , Caesars
Entertainment (NYSE:CZR) has been named Corporation of the Year by the
Las Vegas Asian Chamber of Commerce. to acquire the company for
approximately $1.

capri empires

"
Under the terms of the agreement , Grand Sierra Resort Corp. will
purchase certain assets of the Reno Hilton and will assume certain
related current liabilities. You can identify these
statements by the fact that they do not relate strictly to historical
or current facts. Caesars casino resorts operate
under the Caesars, Bally 's, Flamingo, Grand Casinos, Hilton and Paris
brand names.caesars.

gambling physically

Employees find it easy to transfer between properties in an empire.

valid hilton

The transaction is expected to close by the end of the fourth
quarter of 2005 and is subject to customary regulatory approvals and
closing conditions outlined in the purchase agreement. Caesars Entertainment
was represented by CB Richard Ellis on the transaction. Grand Sierra Resort identified the Reno Hilton as having
the capacity, both in land and structure, to support one of the
world's largest indoor water park and entertainment destinations.9 million shares of Harrah 's
common stock.com

Safe Harbor

This document includes "forward-looking statements" intended to
qualify for the safe harbor from liability established by the Private
Securities Litigation Reform Act of 1995. Any forward-looking statements are made pursuant
to the Private Securities Litigation Reform Act of 1995 and, as such,
speak only as of the date made. This is one of many initiatives made by the company in the
last few years to increase the participation of minority and
women -owned vendors.

overseas headquarters

With annual revenue of $4.9 billion in cash and 67. Caesars Executive Vice President
Steven F.

About Caesars Entertainment

Caesars Entertainment, Inc. The company has its corporate headquarters in Las Vegas. Shareholders of both companies are scheduled to vote on
the merger in separate meetings on March 11.

fitzgeralds empire

2 billion, 24
properties on three continents, more than 25 ,000 hotel rooms, two
million square feet of casino space and 50,000 employees, the Caesars
portfolio is among the strongest in the industry. Barr. "Caesars' commitment to the economic
vitality of our community through its supplier diversity program is to
be commended.

casinos define

Upon approval of the Nevada
Gaming Control Board and the Nevada Gaming Commission, Larry Woolf,
former chief executive officer and chairman of MGM Grand Hotel, Las
Vegas, will lease the property's gaming operations from Grand Sierra
Resort Corp.9 billion in cash and 67.

casino caesars

Readers 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 or results of Caesars may differ
materially from those expressed or implied by such forward-looking
statements.

operate awarded

In addition, a subsidiary of the
Navegante Group will purchase certain of the gaming assets of the Reno
Hilton from Caesars Entertainment and will assume certain
gaming-related current liabilities.
Additional information on Grand Sierra Resort Corp. Caesars' continued support of our chamber and its
scholarship foundation has allowed us to provide for the educational
goals of local students. (NYSE:CZR) is one of the world's
leading gaming companies.

operate harrah

About Grand Sierra Resort Corp. These statements contain words such as "may,"
"will," "project," "might," "expect," "believe," "anticipate,"
"intend ," "could," "would," "estimate," "continue" or "pursue," or the
negative or other variations thereof or comparable terminology.

define headquarters

, a Nevada-based hotel and resort developer, for approximately
$150 million .
"We have some very exciting plans for the Reno Hilton, which I
believe is one of the most exceptional properties in Nevada," said
Thomas J. Such risks and uncertainties include, but are not limited
to , the following factors as well as other factors described from time
to time in our reports filed with the SEC, including Caesars Annual
Report on Form 10-K for the year ended December 31, 2004 and Quarterly
Report on Form 10-Q for the quarter ended March 31, 2005, (including
the sections entitled "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations " contained
therein): financial community and rating agency perceptions of
Caesars, the effects of economic, credit and capital market conditions
on the economy in general, and on gaming and hotel companies in
particular; construction factors, including delays, zoning issues,
environmental restrictions, soil and water conditions, weather and
other hazards, site access matters and building permit issues; the
effects of environmental and structural building conditions relating
to our properties; the ability to timely and cost-effectively
consummate Harrah's acquisition of Caesars and integrate Caesars
properties into Harrah's operations; the loss of Caesars personnel in
connection with Harrah's acquisition of Caesars; access to available
and feasible financing, including financing for Harrah's acquisition
of Caesars, on a timely basis; changes in laws (including increased
tax rates), regulations or accounting standards, third-party relations
and approvals, and decisions of courts, regulators and governmental
bodies; litigation outcomes and judicial actions, including gaming
legislative action, referenda and taxation; the ability of our
customer-tracking, customer loyalty and yield-management programs to
continue to increase customer loyalty and revenue; our ability to
recoup costs of capital investments through higher revenues; acts of
war or terrorist incidents; abnormal gaming holds; and the effects of
competition, including locations of competitors and operating and
market competition.caesarsdiversity.com that enables these
vendors to communicate quickly and directly with senior Caesars
Entertainment procurement officials through a convenient, one-stop
process.

harrah define

Grand Sierra plans on redeveloping the property by creating a
synergistically themed resort, blending hotel, condominiums, indoor
water park, retail stores, restaurants, theme parks and midways
elements into an unparalleled guest experience.

Caesars Entertainment Named Corporation of the Year by the Las Vegas Asian Chamber of Commerce

Sites that define multi-casino empires wind up here.

hilton harrah

Additional information on Caesars Entertainment can be accessed
through the company's web site at www.caesars.

valid harrah

Right now,
we simply want to say that we are looking forward to working very
closely with the people and public officials of Reno to develop an
extraordinary resort that will create significant economic benefits
for the community. to acquire the company for
approximately $1.