River Rock Casino to become Caesars Republic Sonoma County Summer 2027

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On Aug. 2, Dry Creek Rancheria and Caesars Entertainment (NASDAQ: CZR) broke ground on a joint project to turn River Rock Casino into Caesars Republic Sonoma County. The partnership was launched when Dry Creek Rancheria selected Caesars Entertainment as its development and management partner for the new integrated resort. Citizens led the project financing, with Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (“GLPI”) serving as the lead real estate financing partner. Caesars Republic Sonoma County is located off Hwy 101 and sits above the Alexander Valley Vineyards, providing breathtaking views of both the vineyards and the Russian River.

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Caesars Republic Sonoma County Exterior Rendering_Credit Caesars Entertainment

“Breaking ground on Caesars Republic Sonoma County marks a monumental moment for Dry Creek Rancheria. This partnership with Caesars Entertainment represents more than just a new chapter in our casino’s story — it’s a bold leap into the future for our Tribe and our community. Together, we are creating a world-class resort experience that blends the natural beauty of Sonoma County with premier gaming, hospitality and entertainment,” said Chris Wright, Chairman, Dry Creek Rancheria Band of Pomo Indians. “We are proud to work alongside Caesars, Citizens and GLPI to bring this vision to life and elevate our economic and cultural legacy. This project is a powerful step forward and we are eager to share it with the region and beyond.”

The resort casino will be completely transformed and will feature a new casino floor with more than 1,000 slot machines and 28 table games. The destination will also be home to a new 100-room hotel with a luxury spa, pool and fitness center.

“On the heels of a successful launch of Caesars Republic in Lake Tahoe, we couldn’t think of a better place than Sonoma County to continue the brand’s expansion,” said Anthony Carano, President and COO at Caesars Entertainment. “We’re excited to partner with Dry Creek Rancheria to bring this incredible destination to life and offer a new, elevated and unique experience for our guests to indulge in, right in the heart of wine country.”

Caesars Republic Sonoma County will also offer a robust food and beverage line-up, including a steakhouse, an upscale café, an Asian concept and an elevated quick-service option. Additionally, guests can enjoy a fireside bar, sports bar and the resort’s dedicated wine bar, which will have an outdoor deck providing unparalleled views of the valley.

“Dry Creek Rancheria and Caesars are creating a premier gaming destination in Sonoma County,” said Jason Miller, Head of Debt Capital Markets at Citizens. “We appreciate the opportunity to support Dry Creek, leverage our lending relationships and partner with Caesars and GLPI to help set the foundation for the long-term success of the Tribe.”

Peter Carlino, Chairman and Chief Executive Officer of GLPI, commented, “We are proud to be initiating a long-term relationship with Dry Creek Rancheria in our role as the lead real estate financing partner for Caesars Republic Sonoma County. We are also delighted to expand our long-term relationship with Caesars Entertainment. GLPI’s involvement in this project is consistent with our underwriting and coverage criteria as well as our focus on aligning with and supporting our tenants, who are the industry’s leading regional gaming operators. Caesars Republic Sonoma County represents an exciting opportunity to develop a world-class destination in the heart of California’s iconic Sonoma Valley wine region.”

Caesars Republic Sonoma County will be part of Caesars Entertainment’s expansive Caesars Rewards^® network. Guests who stay and play at the resort can earn and redeem Reward Credits at any of Caesars Entertainment’s 50+ destinations across the country, including Caesars Republic Sonoma County.

Additional details about the project will be announced at a later date. For more information about Caesars Entertainment or Caesars Republic Sonoma County, please visit www.caesars.com.

About Dry Creek Rancheria Band of Pomo Indians

The Dry Creek Rancheria Band of Pomo Indians is a Northern California Tribe whose Pomo ancestors continuously and successfully occupied the Russian River and Dry Creek Valleys for more than five thousand years. Official recognition of the Tribe as a sovereign nation occurred in 1915, when the federal government created the Dry Creek Rancheria and named the Tribe the Dry Creek Rancheria Band of Pomo Indians. The rancheria occupies 75 acres in Geyserville off Highway 128 – a sliver of the Tribe’s historic land. In March 2000, the California voters passed Proposition 1A — also known as the Gambling on Tribal Lands Amendment — approving Indian gaming on reservation lands. Dry Creek Rancheria opened River Rock Casino in 2002 and has been in operation since then. Dry Creek Rancheria is made up of approximately 1,300 Tribal members and more than 60% live in Sonoma County.

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 the 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 Team Members, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. Know When To Stop Before You Start.® Gambling Problem? Call 1-800-522-4700. For more information, please visit www.caesars.com/corporate. If you think you or someone you care about may have a gambling problem, call 1-877-770-STOP (1-877-770-7867).

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $218.3 billion in assets as of June 30, 2025. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,000 ATMs and approximately 1,000 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on X, LinkedIn or Facebook.

About Gaming and Leisure Properties

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.

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