![]() Nor was the casino and racetrack resort part of the gaming properties upon the sale of which the Federal Trade Commission (FTC) issued its conditional approval for the merger. The sale of Harrah’s Louisiana Downs comes as a surprise as there were no requirements for property divestments from the Louisiana Gaming Control Board which signaled a greenlight for the merger between Caesars and Eldorado in January. No Further Details Disclosedīoth VICI and Caesars did not disclose further detail regarding the deal, besides the fact that the proceeds from the sale which is expected to close at the end of 2020 or during early 2021, would be split $16.5 million to $5.5 million for the casino operator and the real estate investment trust, respectively.Ĭaesars Entertainment and VICI Properties outlined the annual base rent payments under the Regional Master Lease between them will remain unchanged after the completion of the deal which is subject to regulatory approvals and other closing conditions. The sale of the casino and racecourse resort in Bossier City, Louisiana, comes as a surprise on the back of the industry expectation that the mammoth casino operator would sell a Las Vegas Strip property. Caesars Entertainment and VICI Properties announced Thursday the sale of a casino property, as both companies entered into definitive agreements to sell Harrah’s Louisiana Downs in a $22 million deal to Rubico Acquisition Corp.
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