Caesars Entertainment And World Series Of Poker "Chip In" To The Tune Of $6 Million To ONE DROP Organization
LAS VEGAS, Aug. 29, 2012 / 3BL Media / PRNewswire/ -- Caesars Entertainment Corporation (Nasdaq: CZR) and the World Series of Poker (WSOP) worked together this summer to support ONE DROP, an international organization dedicated to give access to safe water for all, today and tomorrow. Their efforts comprised of the world's largest buy-in poker tournament, WSOP's The Big One for ONE DROP, and an eight-week multi-property awareness campaign resulted in approximately $5.6 million in financial and $3 million of in-kind donations inclusive of tournament costs for hosting, operations and marketing.
As the largest single-year donation ONE DROP has received from a corporation since the charitable organization's inception, this donation will have far reaching impacts. The contributed funds will be dedicated to ONE DROP water projects in El Salvador, Honduras and Burkina Faso aimed at significantly increasing safe access to water today, and for future generations. During the next five years, the health and overall well-being of more than 77,000 men, women and children will be improved with the installation of water filters, new wells, restrooms, washing stations and gardens.
"It was such a thrill for ONE DROP to be part of the most significant charity initiative in poker history during the biggest poker tournament ever The Big One for ONE DROP. We are truly thankful for the effort expended before and during the tournament, from selling reusable water bottles in aid of ONE DROP, to installing water fountains on site. WSOP showed true commitment while inviting players and fans to join in support of ONE DROP and its water-access projects and the players displayed their on-going generosity," said Guy Laliberte, Founder of Cirque du Soleil™ and Chairperson of ONE DROP.
In its inaugural year, The Big One for ONE DROP poker tournament was a sold-out event featuring 48 participants from around the world who competed in the three-day tournament for a chance at more than $42 million in winnings. For each $1 million entry fee, $111,111 was donated to ONE DROP along with additional poker player and spectator donations. Caesars Interactive Entertainment CEO Mitch Garber, and eventual winner Antonio Esfandiari each personally donated an additional $111,111, bringing the total monies raised to more than $5.6million from just the WSOP event.
"It was an incredible event for a great cause, and we're thrilled that the end result of our efforts will have long-lasting positive effects," said Garber. "What started as an outlandish concept turned out to be one of the most successful charitable endeavors our company has ever been a part of and we are content that ONE DROP will use these funds to change people's lives meaningfully."
Four of Caesars Entertainment's Las Vegas properties (Rio All-Suite Hotel & Casino, Harrah's Las Vegas, Imperial Palace and Caesars Palace Las Vegas) and Caesars Entertainment's meetings and conventions group also did their part to raise funds by donating a portion of proceeds from specially designed water bottles sold poolside and at retail centers.
This collective effort is one of many social and environmental causes Caesars has implemented this year under its comprehensive sustainability strategy, CodeGreen. To learn more about the CodeGreen strategy and its employee-driven programs visit www.caesars.com/codegreen or the CodeGreen Blog at www.codegreen.harrahsblog.com.
ABOUT CAESARS ENTERTAINMENT CORPORATION
Caesars Entertainment Corporation is the world's most geographically diversified casino-entertainment company. Since its beginning in Reno, Nevada, more than 74 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.
ABOUT THE WSOP
The World Series of Poker (WSOP) is the largest, richest and most prestigious gaming event in the world awarding millions of dollars in prize money and the prestigious gold bracelet, globally recognized as the sport's top prize. Featuring a comprehensive slate of tournaments in every major poker variation, the WSOP is poker's longest running tournament in the world, dating back to 1970. In 2012, the event attracted 74,766 entrants from 102 different countries to the Rio in Las Vegas and awarded over $222 million in prize money. In addition, the WSOP has formed groundbreaking alliances in broadcasting, digital media and corporate sponsorships, while successfully expanding the brand internationally with the advent in 2007 of the World Series of Poker Europe. The WSOP Circuit Tour is entering its ninth season in 2012-13, and will feature 20 stops throughout the U.S. and Canada. For more information on the World Series of Poker, please visit www.WSOP.com.
ABOUT ONE DROP
ONE DROP—an initiative of Guy Laliberte, Founder of Cirque du Soleil®—is an international non-governmental organization established in Canada, in 2007. ONE DROP fights poverty by supporting access to water and raising individual and community awareness of the need to mobilize so that safe water is accessible to all, in sufficient quantity, today and tomorrow. With its uniquely artistic approach, ONE DROP educates and implements site-specific safe water solutions while allocating microfinance loans to help ensure sustainable development. Worldwide, ONE DROP's ongoing creative projects also raise awareness about water-related issues and encourage smarter water practices. In the U.S., ONE DROP is a public charity that undertakes innovative activities in which water plays a central role as a creative force to generate positive, sustainable change worldwide. To learn more, visit ONEDROP.org
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