Supplier News
US – Caesars offloads its 20 per cent stake in Ohio casinos
By Phil - 2 March 2015
Caesars Entertainment has sold its 20 per cent share in three Ohio casinos to its Detroit-based partner Rock Gaming.
The deal was confirmed by Rock Gaming’s subsidiary, Rock Ohio Ventures. Caesars will carry on operating the properties, which will remain part of the company’s Total Rewards player loyalty program.
Rock Ohio Ventures now owns a 100 per cent stake in Horseshoe Cleveland, ThistleDown, Horseshoe Cincinnati, the Ritz-Carlton Hotel in Cleveland and downtown’s Higbee Building, as well as a controlling interest in Turfway Park in Kentucky.
Rock Gaming CEO Matt Cullen said: We will continue to provide the same high-quality experience and service guests have come to expect and remain committed to our casino investments and the communities where we operate in.”
Guests “will still be able to earn and redeem Total Rewards credits while maintaining their tier status and other accumulated benefits,” Mr. Cullen said. “Operations will continue as usual.”
Caesars is trying to reduce its debt by almost $10bn.
