Saint Regis Mohawk Tribe and Caesars Issue Statement on N.Y. High Court Ruling Upholding State's Native American Gaming Law

AKWESASNE, N.Y. & LAS VEGAS--(BUSINESS WIRE)----The Saint Regis Mohawk Tribal Council and Caesars Entertainment Corporation (NYSE:CZR) today issued the following joint statement regarding the decision of the New York State Court of Appeals to uphold the constitutionality of the 2001 law that authorized the creation of six new Native American casinos in New York State.

   The Tribal Council has signed definitive agreements with Caesars to develop and manage a 742-room casino resort to be built in Sullivan County, New York, about 90 miles northwest of New York City, under the terms and conditions of the 2001 New York Native American gaming law. The hotel and 134,000-square-foot casino is expected to attract millions of visitors annually and create nearly 4,000 permanent jobs, in addition to hundreds of construction jobs.

   The following portion of the statement should be attributed to Saint Regis Mohawk Tribal Chief Barbara A. Lazore.

   "This is tremendous news. The Court of Appeals is New York's highest court and the final authority on interpretations of the State Constitution. The court's ruling represents another major step forward in our efforts to build a Catskill casino and the economic opportunities it will bring for the Tribe, Sullivan County and the State."

   Saint Regis Mohawk Tribal Chief Margaret Terrance added: "This decision also removes any cloud of concern over the legality of our operations at the Akwesasne Mohawk Casino, which is in the middle of its slot machine expansion project that was approved in 2004."

   The remaining portion of the statement should be attributed to Caesars Entertainment Executive Vice President and General Counsel Bernard E. DeLury, Jr. "Today's decision by New York State's highest court puts to rest any remaining doubt about the constitutionality of the 2001 law that authorized Native American gaming in New York state.

   "In its very carefully considered opinion, the Court of Appeals makes it clear that Native Americans in New York state have the same right to build and operate casinos as they do in other states, such as Connecticut, that permit other types of Class III gaming.

   "We look forward to working with Tribal Chiefs to move forward with development of the Mohawk Mountain Casino Resort. As soon as the project wins the final required federal approvals, we will be ready to proceed with construction."  

   Caesars Entertainment, Inc. (NYSE:CZR) is one of the world's leading gaming companies. With annual revenue of $4.2 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. Caesars casino resorts operate under the Caesars, Bally's, Flamingo, Grand Casinos, Hilton and Paris brand names. The company has its corporate headquarters in Las Vegas.

   The company's Board of Directors in July 2004 accepted an offer from Harrah's Entertainment, Inc. to acquire the company for approximately $1.9 billion in cash and 67.9 million shares of Harrah's common stock. Shareholders of both companies approved the merger in separate meetings on March 11, 2005. The transaction is contingent on approval by federal and state regulatory agencies and is expected to close in the second quarter of 2005.

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