Operator News
US – Caesars Entertainment sells Harrah’s Louisiana Downs
By Phil - 4 September 2020
Caesars Entertainment, and VICI Properties have announced definitive agreements to sell Harrah’s Louisiana Downs Casino, Racing & Entertainment to Rubico Acquisition Corp. for $22m.
The casino in Bossier City in northwestern Louisiana, opened in 1974 and houses 1,300 slot machines.
The proceeds of the transactions shall be split $5.5m to VICI Properties and $16.5m 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.
