Caesars Entertainment and the Cleveland Cavaliers Celebrate the Grand Opening of Caesars Sportsbook at Rocket Mortgage FieldHouse

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CLEVELAND, Ohio (Jan. 2, 2023) - Caesars Entertainment, Inc. (NASDAQ: CZR) ("Caesars") - in partnership with the NBA's Cleveland Cavaliers - today celebrated the ceremonial grand opening of Caesars Sportsbook at Rocket Mortgage FieldHouse in Cleveland. The new, 10,355-square-foot sportsbook accepted its first legal sports wagers on New Year's Day, January 1.

The Jan. 2 ceremonial grand opening marked the first time the sportsbook was operational during a Cavs home game. The event featured remarks from Caesars and Cavs representatives, appearances by Cavs Legends, a ceremonial first bet, and a combined donation of $40,000 from Caesars Sportsbook and the Cavaliers to Seeds of Literacy, a nonprofit organization that provides free GED® and HiSET® preparation and basic education to adults in the Cleveland area.

Caesars Sportsbook is easily accessible in the heart of the Gateway District in downtown Cleveland. Its location within the FieldHouse glass atrium offers an incredible view of the Cuyahoga River and allows for natural sunlight to shine throughout the space. It also provides a seamless connection to the more than 200 ticketed events hosted at the venue each year, including Cavs and Cleveland Monsters (AHL) games. The sportsbook features wall-to-wall flatscreen televisions, five betting windows, and 15 self-service betting kiosks with an extensive food and beverage menu and an elevated lounge-like atmosphere across two stories.

"We expect Caesars Sportsbook at Rocket Mortgage FieldHouse to be a go-to entertainment destination for sports fans in Ohio," said David Grolman, SVP & Chief Retail Sportsbook Officer at Caesars Sportsbook. "This unique retail sportsbook anchored to a franchise with tremendous pedigree provides potential customers with a rewarding experience they can't find anywhere else."

"The launch of legalized sports betting in Ohio and the grand opening of Caesars Sportsbook at Rocket Mortgage FieldHouse is a historic moment for our franchise, Northeast Ohio and the entire state," said Cleveland Cavaliers, Rocket Mortgage FieldHouse and Rock Entertainment Group CEO, Nic Barlage. "It is with great pride and responsibility that we open the first Sportsbook in a sports venue in Cleveland. Located within the heart and fabric of downtown Cleveland and connected to the over 200 events that the FieldHouse hosts each year, this Sportsbook will be an asset and amenity for our community, and we're excited to bring it to life alongside our great partners in Caesars."

Caesars Sportsbook is an "Official Sports Betting Partner" and Caesars Entertainment is the "Official Casino Partner" of the Cavs, unlocking unforgettable experiences for bettors available through its industry-leading customer loyalty program Caesars Rewards. In addition to discounted getaways and world-class culinary experiences at Caesars destinations across the U.S., customers can enjoy special access to Cavs tickets, merchandise, experiences with Cavs Legends, and more.

Caesars Sportsbook at Rocket Mortgage FieldHouse is Caesars Entertainment's third sportsbook at a U.S. professional sports facility, adding to the industry's first in-arena sportsbook - Caesars Sportsbook at Capital One Arena in Washington, D.C., and Caesars Sportsbook at Chase Field in Arizona, home of the Arizona Diamondbacks. The opening adds to Caesars' legacy in the Buckeye State, where it just opened another Caesars Sportsbook location at top horse racing and gaming destination Eldorado Gaming Scioto Downs in Columbus.

Eligible sports fans are welcome to visit the sportsbook year-round, which is now open on both event and non-event days Monday through Thursday from 10 a.m. to midnight, Friday from 10 a.m. to 1 a.m., Saturday from 9 a.m. to 1 a.m., and Sunday from 9 a.m. to midnight.

In addition to in-person wagering at Rocket Mortgage FieldHouse and Eldorado Gaming Scioto Downs, Caesars Sportsbook is now live on desktop and available for download on iOS and Android for eligible Ohio customers. Caesars Sportsbook treats every customer like royalty with intuitive features, faster payouts, and new functionality, including expanded in-play markets and high-speed in-app streaming of select marque sporting events. The Caesars Sportsbook app also has tools in place to encourage responsible play, including Deposit Limits, Spending Limits, Daily Time Limits, and Cool Off Time Limits.

For real-time industry updates and to join the empire of like-minded Caesars, players can engage with the Caesars Sportsbook social handle @CaesarsSports on Twitter, Instagram, and Facebook. For more information, please visit www.rocketmortgagefieldhouse.com and follow @Cavs on Twitter, Instagram, and Facebook.

About Caesars Entertainment, Inc.

Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest casino-entertainment company in the U.S. and one of the world's most diversified casino-entertainment providers. Since its beginning in Reno, NV, in 1937, Caesars Entertainment, Inc. has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment, Inc.'s resorts operate primarily under the Caesars®, Harrah's®, Horseshoe®, and Eldorado® brand names. Caesars Entertainment, Inc. offers diversified gaming, entertainment and hospitality amenities, one-of-a-kind destinations, and a full suite of mobile and online gaming and sports betting experiences. All tied to its industry-leading Caesars Rewards loyalty program, the company focuses on building value with its guests through a unique combination of impeccable service, operational excellence and technology leadership. Caesars is committed to its employees, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. Know When To Stop Before You Start.® Gambling Problem? Call or text 1-800-GAMBLER. For more information, please visit www.caesars.com/corporate. Must be 21 or older to gamble. For help, call the Ohio Problem Gambling Helpline at 1-800-589-9966 or visit the Ohio for Responsible Gambling website at www.org.ohio.gov.

ABOUT CLEVELAND CAVALIERS

The Cleveland Cavaliers won the NBA Championship in 2016 while also taking the Eastern Conference crown in 2007, 2015, 2016, 2017 and 2018. The team plays at, and also operates, the transformed Rocket Mortgage FieldHouse in downtown Cleveland, Ohio. The Cavaliers and Rocket Mortgage FieldHouse are part of Rock Entertainment Group. The Group also includes the Cleveland Monsters of the AHL, the Cleveland Charge of the NBA G League, Cavs Legion of the NBA 2K League, Legion Lair Lit by TCP home of Cavs Legion in Cleveland, and Cleveland Clinic Courts - the Cavaliers' training and development center in Independence, Ohio. The Cavaliers are regularly recognized for their extensive community support and engagement programs and contributions, workplace diversity and inclusion leadership, and an on-going economic impact that now registers in the billions of dollars locally. Dan Gilbert is Chairman of the Cleveland Cavaliers. Gilbert and his family of companies have now invested over $2.0 billion in Cleveland. Gilbert is also Founder and Chairman of Rocket Mortgage, the nation's largest mortgage lender, and Founder and Chairman of Rock Ventures LLC, the umbrella entity for his portfolio of business and real estate investments. Nic Barlage is the Cavaliers, Rocket Mortgage FieldHouse and Rock Entertainment Group CEO, and the Cavaliers team is led by President of Basketball Operations Koby Altman, General Manager Mike Gansey and Head Coach J.B. Bickerstaff. The Cavaliers and Rocket Mortgage FieldHouse provide fans the best experience in the NBA with its extensive and stunning array of amenities and technology and signature, electrifying game presentation.

Media Contacts:

Caesars Sportsbook

Brad Harwood, [email protected]

Dominic Holden, [email protected]

Cleveland Cavaliers

Zack Yohman, [email protected]

Source: Caesars Entertainment Inc.; CZR

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