Caesars Entertainment, Inc. Signed Agreement For The Sale Of Caesars Southern Indiana Indians Cherokee
Caesars entertainment, inc. Announced a final agreement on the sale of caesars southern indiana operations east cherokee indians (ebci) for $ 250 million, taking into account the usual procurement price adjustments. In addition, when closing the ebci transaction, a new lease agreement with annual rental payments in the amount of $ 32.5 million with vici properties inc., which retains ownership of real estate. As a result of this transaction, the annual payments of caesars vici properties on the regional main lease will decreased by $ 32.5 million after the transaction is closed.
Since the closure of the caesars transaction and eastern cherokee indians expand their existing relationships, concluding a long-term agreement on the further use of the caesars brand and caesars rewards loyalty programs in caesars southern indiana.
"Expansion of our relationships with the eastern indians cherokee – an exciting event for caesars entertainment. Since the beginning of our partnership in 1996, we admired their growth and success. We hope to expand our relationship due to the distribution of the caesars brand and caesars rewards loyalty programs in caesars southern indiana »,
– said tom rig, ceesarsars entertinment, inc.
"Purchase of the operating company caesars in south indiana marks the beginning of a new exciting future for us. We are pleased to strengthen our long-standing partnership with caesars, because we strive to promote our interests in the field of coming years. ",
– said richard sneppa, representing the cherokee indians.
It is expected that the transaction will be closed in the thrd quarter of 2021 and requires approval of regulators and other conventional closing conditions.
Source: official site caesars entertainment, inc