The agreed sale comes after Eldorado Resorts in July completed its acquisition of Caesars, in a deal that saw the two parties to create what the said is now the largest casino and entertainment business in the US. Subject to regulatory approvals and other closing conditions, Caesars expects the acquisition to close at the end of 2020 or early next year. The acquisition agreement also stated that annual base rent payments under the regional master lease between Caesars and VICI will remain unchanged. Caesars Entertainment – the operating name for the newly combined Caesars Entertainment Corporation and Eldorado Resorts business – has agreed to sell its Harrah’s Louisiana Downs Casino, Racing & Entertainment property to Rubico Acquisition for $22.0m.Ĭaesars will receive $16.5m in proceeds from the sale, with $5.5m going to VICI Properties, a real estate investment trust spun off from the operator in 2017, subject to customary adjustments for cash and net working capital.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |