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Columbia Sussex Corporation Acquires Caesars Tahoe

(CelebrityAccess MediaWire) —

Columbia Sussex Corporation, owner, developer and operator of more than 60 hotels, resorts and casinos worldwide, has acquired Caesars Tahoe casino and resort from Caesars Entertainment Inc. Columbia Sussex took control of the property following approvals from the Nevada Gaming Control Board and the Nevada Gaming Commission.

With the purchase of Caesars Tahoe, Columbia Sussex Corporation hopes to enliven the South Shore of Lake Tahoe by providing amenities, entertainment and overall accommodations unlike anything in the area. "This acquisition provides us with the opportunity to create a resort that is unique to Lake Tahoe," said William Yung, president of Columbia Sussex Corporation. "We plan to reposition the property to appeal to a larger customer base than it previously attracted."

The property will continue to operate as Caesars Tahoe during the renovation process which is expected to be complete in early 2006. The property will be renamed at that time.

Columbia Sussex recently closed on a deal for the Bally's Casino New Orleans. –Bob Grossweiner and Jane Cohen