Caesars Cares Fund to support team members who suffer unanticipated hardships during property closures. Funding to consist of donations by Caesars board members and executives. Caesars Foundation giving will be oriented to support community needs during the coronavirus public health emergency.
LAS VEGAS, April 24, 2020 /PRNewswire/ -- Caesars Entertainment ("Caesars" or the "Company") (NASDAQ: CZR) today announced that an assistance fund has been established for purposes of supporting team members at the Company's properties across the U.S. who suffer unanticipated hardships, including during the closure of Caesars properties as a result of the COVID-19 public health emergency. The Company also announced that donations made by Caesars Foundation will support charities addressing COVID-19 issues in the communities where Caesars operates. The Foundation's initiatives will build on the Company's ongoing efforts to address COVID-19-related needs in these communities. The Company has donated hundreds of thousands of pounds of food to local food banks as well as cleaning supplies and thousands of personal protective equipment items to first responders and medical facilities battling the coronavirus, and recently contributed cots and hundreds of bed linens, pillows and hygiene kits to various homeless shelters and care facilities.
The employee assistance fund, called "Caesars Cares," will be composed of contributions during the property closures in the form of donations from Caesars board of directors and Caesars executives. Caesars Cares will be administered by Lifeboat, Inc, a Louisiana-based public charity, and will be managed and overseen by an independent board of directors that includes a Caesars representative. The independent board will evaluate applications for assistance to help Caesars team members based on unusual hardships arising from the COVID-19 public health emergency.
"Company support, in the forms of extended pay, paid time off and uninterrupted, company-paid medical benefits through the earlier of employees' return to work and June 30, 2020 for employees enrolled in company-sponsored health plans, as well as government assistance, will be a financial bridge for most of our furloughed employees until they return to work. However, some team members at our U.S. properties may suffer other unexpected setbacks that require additional help," said Tony Rodio, CEO of Caesars Entertainment. "Caesars culture has always been based on caring for our people and our communities. Caesars Cares will be available to our work force nationwide, and Caesars Foundation will support local charities engaged in fighting this public health emergency. These initiatives reinforce this caring tradition and are certainly appropriate in these challenging circumstances," Rodio added.
About Caesars Entertainment
Caesars Entertainment is one of the world's most diversified casino-entertainment providers and the most geographically diverse U.S. casino-entertainment company. Since its beginning in Reno, Nevada, in 1937, Caesars Entertainment has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment's resorts operate primarily under the Caesars®, Harrah's® and Horseshoe® brand names. Caesars Entertainment's portfolio also includes the Caesars Entertainment UK 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 Entertainment is committed to its employees, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. For more information, please visit www.caesars.com/corporate.
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SOURCE Caesars Entertainment