CBAC Gaming Joint Venture

CBAC Gaming, LLC is a world-class consortium boasting unmatched expertise and a proven track record in gaming development and operations, entertainment, capital management and urban development and renewal. Caesars is the lead investor and will serve as the operator for Horseshoe Baltimore. Other members of the CBAC consortium include Rock Gaming, LLC, CVPR Gaming Holdings, LLC; STRON-MD Limited Partnership and PRT TWO, LLC.

Horseshoe Baltimore is expected to generate more than $275 million annually in gaming and revenue and taxes for the State, and $32 million annually for Baltimore City.

Caesars Entertainment Corporation is the world's most geographically diversified casino entertainment company. Since its beginning in Reno, Nevada, more than 70 years ago, Caesars has grown through development of new resorts, expansions and acquisitions, and now operates casinos on four continents. The company's resorts operate primarily under the Harrah's', Caesars' and Horseshoe' brand names. Caesars also owns the World Series of Poker' and the London Clubs International family of casinos. Caesars Entertainment is focused on building loyalty and value with its guests through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership. Caesars is committed to environmental sustainability and energy conservation and recognizes the importance of being a responsible steward of the environment. For more information, please visit www.caesars.com.

Rock Gaming LLC is a Midwest-based gaming partnership formed with an initial focus to develop full-service casinos in two of Ohio's largest cities, as well as to explore other potential gaming opportunities. Rock Gaming has partnered with Caesars Entertainment, the world's most geographically diversified gaming company, to develop and operate Horseshoe Casino Cleveland, which opened in May 2012, and Horseshoe Casino Cincinnati, which will open in spring 2013. As truly urban casinos, the combined $1 billion private developments will generate 11 million visits to the downtown areas, while engaging pedestrians and supporting existing cultural, nightlife and sports attractions in both cities.

Rock Gaming and Caesars are equity partners in Turfway Park, a premier thoroughbred horseracing track located in northern Kentucky. The companies also co-own Cleveland-area thoroughbred racetrack Thistledown, which will open as a racino in spring 2013.

Dan Gilbert, chairman of Rock Gaming, is also chairman and founder of Quicken Loans, Inc., the country's largest online retail mortgage lender. He is also the majority owner of the NBA's Cleveland Cavaliers and the American Hockey League's Lake Erie Monsters; both teams play at the Quicken Loans Arena in downtown Cleveland.

For more information, please visit www.rock-gaming.com

CVPR Gaming Holdings is a venture including Baltimore-based Caves Valley Partners, LLC, and Rodgers Legacy II, an affiliate of A&R Development Corporation. Caves Valley Partners, LLC, developed and operated a nationwide portfolio of landmark urban projects such as Harborplace & The Gallery in Baltimore. Rodgers Legacy portfolio included a wide range of residential, commercial and mixed-use developments.

The Stronach Group is a privately-held consortium that owns, operates and manages a number of leading businesses in a wide range of industries. The Stronach Group is one of the world's leading owners of thoroughbred horse tracks. It owns and operates a number of preeminent tracks, including Pimlico Race Course.