Today, Caesars Entertainment Inc. announced the closing of Eldorado Resort Casino Shreveport’s sale. This sale was closed for $140 million (net proceeds) to Bally’s Corporation subject to a customary adjustment of working capital.
The CEO of Caesars Entertainment Tom Reeg said that Eldorado Resort and Casino’s sale completion satisfies the request of the Federal Trade Commission to do out of assets that are connected to the closed previous year’s transaction of Caesars and Eldorado. He added that since his company acquired the property 15 years ago, it is only the commitment and passion of their team members that has contributed to their success in Eldorado Shreveport. Under the new ownership of Bally’s Corporation, Reeg wishes his team all the best for their future in the resort casino.
In this transaction, Milbank LLP and Macquarie Capital were the ones representing Caesars Entertainment.
Caesars Entertainment Inc is one of the most diversified and the largest casino-entertainment companies in the world. Since the company began its operations in 1937, it has only grown through the development of new casino resorts and other properties around the world. The first main location of the company was in Reno, Nevada, from where it started its journey. The company went on to develop new resorts, expand its existing properties, ad acquire new ones.
Primarily, the resorts of Caesars Entertainment operate under the registered brand names of Eldorado, Harrah’s, Caesars, and Horseshoe. Caesars Entertainment offers unique destinations with diverse amenities to its guests and customers. The focus of the company is on building customer loyalty by providing better value to its guests. For doing this, they are providing commendable service, technology leadership, and operational excellence. The management of Caesars Entertainment Inc is committed to the suppliers, environment, communities, and suppliers through the framework named PEOPLE PLANET DAY. If you need more information about the company, you can visit their website www.caesars.com/corporate.
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