Market Overview

CBL Properties and Stadium Casino, LLC Announce Satellite Casino Entertainment Facility Joining CBL's Westmoreland Mall in Hempfield Township, Pennsylvania

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CBL Properties (NYSE:CBL) and Stadium Casino, LLC (a joint venture of
The Cordish Companies and Greenwood Gaming & Entertainment) today
announced plans to develop an approximately 100,000-square-foot casino
and entertainment complex at CBL's Westmoreland Mall in Hempfield
Township, Westmoreland County, PA. The 1.2 million square foot retail,
dining and entertainment destination is located directly off Route 30,
approximately 30 miles from downtown Pittsburgh.

The new casino will be located in the space currently occupied by the
Bon-Ton department store, which is closing in early August. The casino
is projected to create more than 600 jobs and generate millions of
dollars annually for the local community. The project is subject to the
review and approval of the Pennsylvania Gaming Control Board. Once
approved, a construction timeline will be determined.

"CBL's strategy is to reinvent its properties by bringing new and
exciting experiences to our shoppers. We are adding fitness, dining,
hotels and other uses to properties throughout our portfolio," stated
Stephen Lebovitz, CBL's chief executive officer. "The addition of a
casino to Westmoreland Mall is the ultimate combination of
entertainment, dining and experience. We are especially pleased to
attract leading developers of high-profile gaming and entertainment
destinations, such as The Cordish Companies and Greenwood Gaming &
Entertainment. This combination of gaming and new dining venues, which
is the first in the CBL portfolio will draw new traffic to Westmoreland
Mall from across the region, positioning the property for long-term
growth and success."

Commenting on the announcement, Joe Weinberg, Partner in Stadium Casino,
LCC, stated, "We look forward to working with the Gaming Control Board,
Hempfield Township and Westmoreland County in creating an exciting new
destination in Westmoreland County. The property is ideally situated in
the region, with excellent infrastructure and road networks in place.
The synergy of this new gaming and entertainment facility with the
existing retail and dining amenities in the property and surrounding
area will be tremendous."

"I've worked for nine years to expand gaming to allow ancillary casinos,
so it's gratifying to see this finally come to fruition. This project
will bring a sizeable increase in our tax base, a significant number of
full-time jobs, and will help revitalize the Westmoreland Mall complex,"
added State Senator Kim Ward.

About The Cordish Companies

The Cordish Companies' origins date back to 1910 and encompass four
generations of privately-held, family ownership. During the past ten
decades, The Cordish Companies has grown into a global leader in Real
Estate Development, Gaming & Hospitality, Entertainment Management and
International Urban Planning & Development. One of the largest and most
respected developers in the world, The Cordish Companies has been
awarded an unprecedented seven Urban Land Institute Awards for
Excellence for public-private developments that are of unique
significance to the cities in which they are located. Prime examples are
The Cordish Companies' prominent role in the redevelopment of
Baltimore's world famous Inner Harbor; Philadelphia, PA; Atlantic City,
NJ; Charleston, SC; Houston, TX; Louisville, KY; Kansas City, MO and St.
Louis, MO.

In addition, The Cordish Companies has developed and operates multiple
highly acclaimed casino, entertainment and hospitality destinations
throughout the United States which welcome over 50 million visitors per
year and are the most visited destinations in their respective regions.
In Florida, The Cordish Companies developed the highly acclaimed
Seminole Hard Rock Hotel & Casinos in Hollywood and Tampa. The Company
is the owner and operator of Live! Hotel & Casino, one of the top
grossing casinos in the U.S. Over the generations, The Cordish Companies
has remained true to the family's core values of quality,
entrepreneurial spirit, long-term personal relationships and integrity.
As a testimony to the long-term vision of its family leadership, The
Cordish Companies still owns and manages virtually every business it has
created. For more information visit www.cordish.com
or follow us on Twitter (@cordishco).

"The Cordish Companies," "The Cordish Company" and "Cordish" are
trademarks used under license by independent corporations, legal
liability companies and partnerships ("Cordish Entities"). Each Cordish
Entity is a separate, single-purpose legal entity that is solely
responsible for its obligations and liabilities. No common operations or
financial interdependency, and no intermingling of assets or liabilities
of the Cordish Entities exists, or should be deemed to exist, as a
result of the potential common reference to multiple independent
entities operating under the names "Cordish," "The Cordish Companies" or
"The Cordish Company" here or elsewhere.

About Greenwood Gaming and Entertainment, Inc.

Parx Casino® is the top casino in Pennsylvania. It is conveniently
located 20 minutes north of center city Philadelphia, I-95 exit 37 or PA
Turnpike exit 351 (westbound), exit 352 (eastbound) onto Street Road in
Bensalem. Parx features over 200,000 square feet of gaming; over 3,300
slot machines and 133 live table games; over 80 poker tables; live
racing & simulcast action; Parx Grill, an upscale signature restaurant;
Foodies quick service dining; Chickie's & Pete's Crab House and Sports
Bar; 360 bar and live music venue; Jax sports bar; Circle Bar; Bamboo
Noodle House; XLounge, an ultra-modern luxury lounge and complimentary
Parking for over 5,000 cars. In January 2018, Parx debuted a $50M
expansion that included the opening of the 1,500 seat live entertainment
venue, the Xcite Center; the Liberty Bell Gastropub, with a farm-to-fork
inspired menu; Oliveto, featuring New York City style pizza and Italian
Classics; Parx Poker, the brand new poker room moving inside the main
casino. For more information on Parx Casino®, visit www.parxcasino.com.

About CBL Properties

Headquartered in Chattanooga, TN, CBL Properties owns and manages a
national portfolio of market-dominant properties located in dynamic and
growing communities. CBL's portfolio is comprised of 117 properties
totaling 73.4 million square feet across 26 states, including 75
high-quality enclosed, outlet and open-air retail centers and 11
properties managed for third parties. CBL continuously strengthens its
company and portfolio through active management, aggressive leasing and
profitable reinvestment in its properties. For more information visit cblproperties.com.

Information included herein contains "forward-looking statements"
within the meaning of the federal securities laws. Such statements are
inherently subject to risks and uncertainties, many of which cannot be
predicted with accuracy and some of which might not even be anticipated.
Future events and actual events, financial and otherwise, may differ
materially from the events and results discussed in the forward-looking
statements. The reader is directed to the Company's various filings with
the Securities and Exchange Commission, including without limitation the
Company's Annual Report on Form 10-K, and the "Management's Discussion
and Analysis of Financial Condition and Results of Operations" included
therein, for a discussion of such risks and uncertainties.

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