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The transaction is expected to close by the end of the second quarter of and is subject to customary regulatory approvals and closing conditions outlined in the purchase agreement. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Log In Sign Up.{/INSERTKEYS}{/PARAGRAPH} Such forward-looking statements include statements regarding when the transaction is expected to close, the company's strategy, the company's use of the sale proceeds, Columbia Sussex's plans for the property, the financial impact of this transaction on the company and future uses of the company's capital and resources. Stewart, Media stewartr parkplace. Contacts Caesars Entertainment Inc. The company has its corporate headquarters in Las Vegas. Additional information on Caesars Entertainment can be accessed through the company's web site at www. Caesars Entertainment, Inc. Under the terms of the agreement, Columbia Sussex will purchase certain assets of Bally's Casino New Orleans, and will assume certain related current liabilities. The aggregate consideration may be adjusted for changes in net working capital. {PARAGRAPH}{INSERTKEYS}We think it provides a great opportunity in the New Orleans market and we plan significant improvements and changes to the property," said William Yung, President of Columbia Sussex Corporation. All statements which are not historical statements of fact are "forward-looking statements" for purposes of these provisions and are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. NOTE: This press release contains "forward-looking statements" within the meaning of the federal securities law, which are intended to qualify for the safe harbor from liability provided thereunder. Columbia Sussex and its affiliates are one of the largest privately held hotel owners in the country, and one of Marriott Corporation's top licensees. About Columbia Sussex Columbia Sussex and its affiliates are one of the largest privately held hotel owners in the country, and one of Marriott Corporation's top licensees. Libra Securities is the exclusive financial advisor to Caesars Entertainment on the transaction. Caesars Entertainment expects to report no material gain or loss on the transaction. Additional information concerning potential risk factors that could affect the company's future performance are described from time to time in the company's reports filed with the Securities and Exchange Commission, including the company's Annual Report on Form K for the year ended December 31, and Quarterly Reports on Form Q for the quarters ended March 31, and June 30, The reports may be viewed free of charge at the following website: www. The offer must be approved by shareholders of both companies and federal and state regulators before the transaction can close.