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OFFON

CAESARS ENTERTAINMENT, INC.

(CZR)
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Caesars Entertainment : NOBU HOTEL CAESARS PALACE BEGINS MULTIMILLION-DOLLAR REFRESH PROJECT; Re-envisioned by Rockwell Group, the world's first Nobu Hotel will feature 182 redesigned guest rooms and suites, as well as public areas, by the end of 2021

10/12/2021 | 11:08am EST

LAS VEGAS - As the world's first Nobu Hotel Caesars Palace commemorates its eighth anniversary, the luxury boutique hotel within the iconic Las Vegas resort embarks on a multimillion-dollar refresh of all 182 guest rooms and public areas. Construction is set to be complete by the end of 2021. This is one of several projects in development as Caesars Entertainment, Inc. expands its longstanding partnership with Nobu Hospitality - the global lifestyle brand founded by Nobu Matsuhisa, Robert De Niro and Meir Teper.

Nobu Deluxe King Room at Nobu Hotel Caesars Palace - Rendering (Credit: Rockwell Group)

**For high-res renderings, click here**

(Credit: Rockwell Group)

To create a more modern, residential feel at Nobu Hotel Caesars Palace, the award-winning global architecture and design firm Rockwell Group has re-envisioned the guest rooms and common areas it first designed in 2013. Rockwell Group has drawn inspiration from kintsugi, the Japanese art of repairing broken pottery with gold epoxy - creating cohesion from collage. This element will create a streamlined, lighter and more luxe take on the original design concept.

'Eight years ago, we developed the world's first celebrity chef-branded hotel venture with Nobu Hospitality, bringing Nobu's signature style and sophistication to the Las Vegas Strip,' said Martha Morales, General Manager of Nobu Hotel Caesars Palace. 'As the city continues to evolve as one of the top destinations for entertainment, sports and gaming, we are committed to investing in Las Vegas. From the Nobu Hotel refresh to the Caesars Palace main entrance renovation - Caesars is proud to offer experiences that guests can only find at our resorts.'

The focal piece of the new guest rooms will be a custom sofa in a dozen different patch-worked upholsteries, from painterly-style prints to muted textured graphics. The redesigned rooms will also feature a quartzite coffee table with a gold base and a cracked kintsugi effect, along with additional lighting. New custom carpet will have aubergine hues, as well as abstract and painterly-style florals - inspired by 19th Century Japanese artist Tsubaki Chinzan - overlaid with gold kintsugi veining. Another welcome addition will be a statement desk or dining table, which will be connected to the dresser by a quartz buffer. The refreshed suites will also feature new furniture, rugs and flooring.

Redesigned guest corridors will feature a custom carpet with rippling forms, suggesting a pond of koi fish that cluster at each guest room door, and patterns inspired by suminagashi - the art of Japanese paper marbling. In addition, the new inset lobby carpet will depict monumental slabs of marble and agate surrounded by gold veining, with pops of gray, rust and blue.

Caesars Entertainment and Nobu Hospitality recently announced future developments of two new Nobu Hotels and restaurants at Harrah's New Orleans and Caesars Atlantic City, as well as a Nobu restaurant at Paris Las Vegas.

For more information and to book, visit caesars.com/nobu-caesars-palace.

About Caesars Palace

World-renowned Las Vegas resort and a Top 10 'Best U.S. Casino' by USA TODAY 10BEST Readers' Choice, Caesars Palace features 3,980 hotel guest rooms and suites, including the all-new Palace Tower featuring 10 new luxury villas, the 182-room Nobu Hotel Caesars Palace and Forbes Star Award-winning The Laurel Collection by Caesars Palace. The 85-acre resort offers diverse dining options from the award-winning Bacchanal Buffet, to celebrity chef-branded restaurants, including Gordon Ramsay HELL'S KITCHEN, Pronto by Giada, as well as Bobby Flay's new restaurant concept, Amalfi, now open, Vanderpump Cocktail Garden by restauranteur and television star Lisa Vanderpump, one of Nobu Matsuhisa's largest Nobu Restaurant and Lounge, Restaurant Guy Savoy, Old Homestead Steakhouse, Rao's, MR CHOW and more. For the best in cocktails, destination lounges include Montecristo Cigar Bar, Alto Bar, VISTA Cocktail Lounge, and Stadia Bar. The resort also features nearly 130,000 square feet of casino space, including a recently renovated race and sports book boasting the largest screen on the Strip at 138 ft., a five-acre Garden of the Gods Pool Oasis, the luxurious Qua Baths & Spa, COLOR Salon, five wedding chapels and gardens, and the 75,000-square-foot OMNIA Nightclub with the top DJs such as Steve Aoki. The 4,300-seat Colosseum, Billboard Magazine's 'Venue of the Decade: 2000 - 2009,' spotlights world-class entertainers including Usher, Sting, Keith Urban, Rod Stewart, Reba, Brooks & Dunn and Jerry Seinfeld. The Forum Shops at Caesars Palace showcases more than 160 boutiques and restaurants. Caesars Palace is operated by a subsidiary of Caesars Entertainment, Inc. (NASDAQ: CZR). For more information, please visit caesarspalace.com or the Caesars Entertainment Las Vegas media room. Find Caesars Palace on Facebook and follow on Twitter and Instagram. Know When To Stop Before You Start. If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-522-4700 2021, Caesars License Company, LLC.

About Nobu Hospitality

Named one of luxury's 25 Most Innovative Brands by Robb Report, Nobu Hospitality is ranked among an elite selection of global luxury brands. The natural growth of Nobu Hospitality, built on service, image, and reputation, offers the complete spectrum of hotel, restaurant, and residence management for unique projects around the world. Founded by Nobu Matsuhisa, Robert De Niro and Meir Teper, with operations spanning five continents, the Nobu brand thrives in the world's capitals as the ultimate destination lifestyle experience. The first Nobu Hotel opened in 2013 in Las Vegas and since then hotels have opened in the following locations: Manila, Miami Beach, Malibu, Shoreditch (London), Ibiza, Palo Alto, Marbella, Los Cabos, Barcelona, Warsaw, Chicago, and Portman Square (London). Nobu Hotels are in development for Marrakech, Riyadh, Toronto, Sao Paulo, Atlanta, Tel Aviv, Hamburg, New Orleans, Atlantic City, and Thailand. Nobu is strategically focused on further expanding its global portfolio of hotels through a solid pipeline.

About Rockwell Group

Based in New York with offices in Los Angeles and Madrid, Rockwell Group is an interdisciplinary architecture and design firm that emphasizes innovation and thought leadership in every project. Founded by David Rockwell, FAIA, and led by David and partners Shawn Sullivan and Greg Keffer, the 250-person firm merges performance and architecture to create extraordinary experiences and built environments across the globe. Projects include Nobu Hotels (Barcelona, Miami Beach, Manila and Las Vegas) and Nobu restaurants worldwide; the Smithsonian's FUTURES exhibition at the Arts and Industries Building; 1 Hotel Toronto; Climate Pledge Arena (Seattle); W Hotels worldwide; The Perelman, a new arts center in New York (Restaurant and Lobby Interior Architect); the 93rd Oscars; and Hopkins Student Center for John Hopkins University (Baltimore). David Rockwell's newest book, DRAMA, was published by Phaidon in May 2021. Honors and recognition include the 2016 Tony Award for Best Scenic Design for She Loves Me; two Emmy Awards for production design for the Oscars (2021 and 2010); the AIANY President's Award; the Cooper Hewitt National Design Award; and the Presidential Design Award. For more information, please visit www.rockwellgroup.com.

SOURCE Caesars Entertainment, Inc.

Kristin Soo Hoo, Caesars Entertainment, ksoohoo@caesars.com

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 9 754 M - -
Net income 2021 -760 M - -
Net Debt 2021 12 581 M - -
P/E ratio 2021 -24,4x
Yield 2021 -
Capitalization 19 676 M 19 676 M -
EV / Sales 2021 3,31x
EV / Sales 2022 2,87x
Nbr of Employees 54 000
Free-Float 95,5%
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Number of Analysts 15
Last Close Price 92,04 $
Average target price 136,43 $
Spread / Average Target 48,2%
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Managers and Directors
Thomas R. Reeg Chief Executive Officer & Director
Anthony L. Carano President & Chief Operating Officer
Bret Yunker Chief Financial Officer & Treasurer
Gary L. Carano Executive Chairman
Stephanie D. Lepori Chief Administrative & Accounting Officer
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