Bill Bigelow To Leave Las Vegas Hilton After Four Years As President

Bigelow, who began his gaming career at the Las Vegas Hilton in 1980, previously served as president of the Flamingo Laughlin and vice president and general manager of the Flamingo Las Vegas.

"As the prospective buyer of the Las Vegas Hilton prepares to announce its choice for a new president, I concluded that it was time for me to move on to new challenges," Bigelow said. "I've had a long and exciting career with Caesars Entertainment and its predecessor companies - Park Place Entertainment and Hilton gaming - and I'll be looking at a number of opportunities in the weeks ahead. Caesars Entertainment and I are ending our relationship on the very best of terms."

Caesars Entertainment Senior Vice President Anthony F. Santo, who heads the company's Western and Mid-South regions, said Bigelow "led the Las Vegas Hilton with great distinction during challenging times. His service was very much appreciated by the company and the staff of the Hilton.

"We were anxious to find other opportunities to put Bill's talents to work," Santo added, "but none were available in Clark County, where Bill has decided to stay." Santo will assume the position of interim president at the Las Vegas Hilton until the sale closes.

Caesars Entertainment announced on December 24, 2003 that it had entered into a definitive agreement to sell the Las Vegas Hilton to an affiliate of Colony Capital, LLC, a Los Angeles based international private investment firm, for approximately $280 million.

The transaction is expected to close by the end of the second quarter of 2004 and is subject to customary closing conditions outlined in the purchase agreement.

About Caesars Entertainment - Caesars Entertainment, Inc. CZR is one of the world's leading gaming companies. With $4.5 billion in annual net revenue, 29 properties on four continents, 29,000 hotel rooms, two million square feet of casino space and 54,000 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. Additional information on Caesars Entertainment can be accessed through the company's web site at www.caesars.com.

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. 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. Such forward-looking statements include statements regarding the sale of the Las Vegas Hilton and Colony Capital's plans for the property. Risk factors which could cause actual results to differ from expectations include the closing of the transaction and/or the timing thereof and matters related to the sales and transition processes. 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 10-K for the year ended December 31, 2002 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2003, June 30, 2003 and September 30, 2003. The reports may be viewed free of charge at the following website: www.sec.gov. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.