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Caesars Entertainment sells Harrah's Louisiana Downs

3 Sep 2020

(PRESS RELEASE) -- Caesars Entertainment, Inc., and VICI Properties Inc. today announced definitive agreements to sell Harrah's Louisiana Downs Casino, Racing & Entertainment to Rubico Acquisition Corp. for $22.0 million. The proceeds of the transactions shall be split $5.5 million to VICI Properties and $16.5 million to Caesars subject to customary adjustments for cash and net working capital. The annual base rent payments under the Regional Master Lease between Caesars and VICI will remain unchanged.

The transactions are expected to close at the end of 2020 or early 2021, and are subject to regulatory approvals and other closing conditions.
 
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