The last state to approve the merger was New Jersey. The two companies had to be approved in each operating state, which took some time. However, the process would take some time. The two did not balk at the idea and quickly got to work getting rid of properties so they could see the merger approved as quickly as possible. With the two trying to merge into one giant company, one condition was that both parties offload some casinos to prevent competition issues once they became one operation. They will be done with the purchase of Bally’s by the end of this year and will pay a total of $25 million. Twin River will pay a whopping $155 million for several properties of Eldorado. Back in April, it was announced that the Shreveport casino would be sold along with the Bally’s Atlantic City Hotel & Casino plus the Montbleu Resort, Casino and Spa. It will take until next year before this deal will be finalized.Ĭaesars has been getting rid of assets left and right as it looked to combine with Eldorado. This deal must also see regulatory approval given and closing conditions met. This is part of a bigger deal that involves two more properties in other states. In the next few months, the Eldorado Resort Casino located in Shreveport, Louisiana will be sold to Twin River Worldwide Holdings.

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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