Business
Caesars Entertainment, Inc. Announces Agreement to Sell Belle of Baton Rouge to Casino Queen Holdings
RENO, Nev. and LAS VEGAS, Dec. 1, 2020 /PRNewswire/ -- Caesars Entertainment, Inc., (NASDAQ: CZR) ("Caesars" or "CZR") today announced a definitive agreement
About this update from Caesars Entertainment, Inc.
[{"type":"text","content":"RENO, Nev. and LAS VEGAS, Dec. 1, 2020 /PRNewswire/ -- Caesars Entertainment, Inc., (NASDAQ: CZR) (\"Caesars\" or \"CZR\") today announced a definitive agreement to sell Belle of Baton Rouge to CQ Holding Company, Inc. (Casino Queen). \n\n \n \n \n \n \n \n\n \nPursuant to the terms of the amended lease agreement with Gaming and Leisure Properties, Baton Rouge will be removed from the GLPI Master Lease, and the rent payments to GLPI will remain unchanged. GLPI will retain ownership of the real estate of Belle of Baton Rouge.\n\"I want to thank all of our Baton Rouge Team Members for their hard work and dedication, especially during the COVID-19 pandemic,\" said Tom Reeg, CEO of Caesars Entertainment, Inc. \"We wish them the best under Casino Queen's ownership.\" \nThe transaction is expected to close in mid-2021 and is subject to regulatory approvals and other customary closing conditions.\nMacquarie Capital and Milbank LLP represented Caesars Entertainment on the transaction. \nAbout 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, Nevada, in 1937, Caesars Entertainment has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment's resorts operate primarily under the Caesars®, Harrah's®, Horseshoe® and Eldorado® brand names. Caesars Entertainment offers diversified amenities and one-of-a-kind destinations, with a focus on building loyalty and value with its guests through a unique combination of impeccable service, operational excellence and technology leadership. Caesars Entertainment is committed to its employees, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. For more information, please visit www.caesars.com/corporate. \nForward-Looking StatementsThis press release includes \"forward-looking statements\" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding the strategies, objectives and plans for future development or acquisitions of properties or operations of Caesars, as well as expectations, future operating results and other in...