LAS VEGAS and RENO, Nev., Sept. 3, 2021 /PRNewswire/ — Caesars Entertainment today announced the closing of the sale of the operations of Caesars Southern Indiana to the Eastern Band of Cherokee Indians for approximately $250 million. In connection with this transaction, Caesars’ annual base rent payments to VICI Properties under the Regional Master Lease will be reduced by $32.5 million. Additionally, effective today, Caesars and the Eastern Band of Cherokee Indians will extend their existing relationship by entering into a long-term agreement for the continued use of the Caesars brand and Caesars Rewards loyalty program at Caesars Southern Indiana.
“I want to thank the Team Members of Southern Indiana for all of their hard work and wish them continued success under their new leadership,” said Tom Reeg, CEO of Caesars Entertainment, Inc.
J.P. Morgan and Latham & Watkins LLP represented Caesars Entertainment on the transaction. Innovation Capital LLC and Brownstein Hyatt Farber Schreck represented the Eastern Band of Cherokee Indians.
About Caesars Entertainment, Inc.
Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest casino-entertainment company in the US and one of the world’s most diversified casino-entertainment providers. Since its beginning in Reno, NV, in 1937, Caesars Entertainment, Inc. has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment, Inc.’s resorts operate primarily under the Caesars®, Harrah’s®, Horseshoe®, and Eldorado® brand names. Caesars Entertainment, Inc. offers diversified gaming, entertainment and hospitality amenities, one-of-a-kind destinations, and a full suite of mobile and online gaming and sports betting experiences. All tied to its industry-leading Caesars Rewards loyalty program, the company focuses on building value with its guests through a unique combination of impeccable service, operational excellence and technology leadership. Caesars is committed to its employees, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. Know When To Stop Before You Start.® Gambling Problem? Call 1-800-522-4700. For more information, please visit. www.caesars.com/corporate.
