![]() The sale of the venue is the first for Caesars after the finalization of the deal involving Eldorado Resorts was completed. It will be subject to closing conditions as well as regulatory approvals. As part of the trust, VICI owned several casinos operated by Caesars in the US and they are leased back to the company for use.Īs far as Harrah’s Louisiana Downs is concerned, the new acquisition deal should be completed late this year or early next year. Both companies announced at the time of the sale decision that the annual base rent payments made within the Regional Master Lease between the two will continue as normal.Īfter Caesars came out of bankruptcy, they created a real estate investment trust known as VICI. Adjustments will be made for cash and networking capital. A total of $16.5 million will go to Caesars. With the acquisition agreement, Caesars will see $5.5 million of the proceeds go to VICI. Late last week, Caesars announced alogn with VICI properties, its real estate investment trust, that they would sell the Harrah’s Louisiana Downs Casino, Racing & Entertainment to Rubico Acquisition Corp. The new group will now use Caesars name within its venues. The two joined forces in late July after the $17.3 billion deal was completed. ![]() has been set to offload properties as part of terms of the deal. Due to its tie-up with Eldorado Resorts, Caesars Entertainment, Inc.
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