NASHVILLE, Tenn. -- (Business Wire)

Gaylord Entertainment Company (NYSE: GET) announced today that the Colorado State Economic Development Commission has awarded the Gaylord Aurora project a state sales tax incentive pursuant to the state’s Regional Tourism Act enacted in 2009. The incentive award provides for an annual rebate of 65.8 percent of the state sales tax generated by the project for the first 30 years of its operation. As a result, the project would receive 65.8 percent of the state’s 2.9 percent sales tax, equaling 1.91 percent of project revenues annually over its first 30 years of operation. This award is subject to the EDC and Gaylord working together over the next 120 days to refine the parameters of the project.

The City of Aurora and Gaylord had applied for a 95 percent sales tax rebate as part of the State EDC’s competitive process to select two projects for the Regional Tourism Act incentive award.

”We want to thank the State EDC officials and staff for the thoroughness and transparency they have demonstrated throughout this process and we are pleased that they have deemed our Aurora project worthy of RTA funding,” said Colin V. Reed, chairman and chief executive officer of Gaylord Entertainment. “We are excited about the greater Denver region and will review the overall viability of the project in its current form and structure given this decision, while at the same time preserving the enormous economic benefits that this project will bring to Colorado. We look forward to working with the Commission over the coming months to finalize the details.”

Gaylord originally announced its plans to develop a resort and convention hotel in Aurora, Colorado in June, 2011. Located less than ten minutes from Denver International Airport, one of the most well-traveled and accessible airports in the world, and 25 minutes from downtown Denver, Aurora is ideally situated for both business and leisure travel. The company would expect the resort to be open for business in mid-to-late 2016.

Reed continued, “We remain enthusiastic about the potential for our proposed Aurora development, and are confident that a Gaylord property in the Denver market would represent a substantial boost to the local economy and tourism industry.”

About Gaylord Entertainment:

Gaylord Entertainment (NYSE: GET), a leading hospitality and entertainment company based in Nashville, Tenn., owns and operates Gaylord Hotels (www.gaylordhotels.com), its network of upscale, meetings-focused resorts and the Grand Ole Opry (www.opry.com), the weekly showcase of country music's finest performers for 86 consecutive years. The company's entertainment brands and properties include the Radisson Hotel Opryland, Ryman Auditorium, General Jackson Showboat, Gaylord Springs Golf Links, Wildhorse Saloon, and WSM-AM. For more information about the company, visit www.GaylordEntertainment.com.

Contacts:

Investor Relations:
Gaylord Entertainment
Mark Fioravanti, 615-316-6588
Executive Vice President and Chief Financial Officer
mfioravanti@gaylordentertainment.com
~or~
Gaylord Entertainment
Patrick Chaffin, 615-316-6282
Vice President of Strategic Planning and Investor Relations
pchaffin@gaylordentertainment.com
~or~
Media:
Gaylord Entertainment
Brian Abrahamson, 615-316-6302
Vice President of Corporate Communications
babrahamson@gaylordentertainment.com
~or~
Sloane & Company
Josh Hochberg or Dan Zacchei
212-446-1892 or 212-446-1882
jhochberg@sloanepr.com / dzacchei@sloanepr.com

Source: Gaylord Entertainment Company