The Louisiana Gaming Control Board has officially approved the sale
of Caesars Entertainment Corporation (NASDAQ: CZR) property Harrah’s New
Orleans to Caesars Growth Partners (CGP), an entertainment and casino
asset of Caesars Acquisition Company (NASDAQ: CACQ).
Caesars Acquisition Co. and Caesars Entertainment Corp. made a joint announcement about the finalization of the deal a day following the May 19th approval by the gaming commission. The transaction will not interrupt the daily operations at Harrah’s New Orleans and the acquired property will remain included in the Total Rewards Network.
This comes after the recent regulatory consent granted to CGP by the Nevada Gaming Commission and the entity’s success in securing $700 million in financing to close on the purchase of The Cromwell, Bally’s Las Vegas and The Quad Resort & Casino from parent company Caesars Entertainment Corporation. Caesars Growth Partners plans on replacing this loan with $2 billion in financing, which will incorporate restructuring Planet Hollywood’s $485 million debt.
About Caesars Growth Partners
Caesars Growth Partners is an entertainment company that solely concentrates its efforts on growing a portfolio of high-growth operating assets and equity and debt investments with strong value potential through acquisitions in the interactive and gaming entertainment industries.
http://www.caesarsacquisitioncompany.com
Caesars Acquisition Company (NASDAQ: CACQ), Mitch Garber CEO and President is an equity stakeholder in Caesars Growth Partners, LLC through Caesars Interactive Entertainment where Mitch Garber Caesars also sits as CEO. The joint partnership is with Casino Properties and Developments, a subsidiary of parent company Caesars Entertainment Corporation (NASDAQ: CZR)
For more information visit
http://www.caesarsacquisitioncompany.com
http://www.caesarsinteractive.com
http://www.caesars.com
http://www.mitchgarber.com
Caesars Acquisition Co. and Caesars Entertainment Corp. made a joint announcement about the finalization of the deal a day following the May 19th approval by the gaming commission. The transaction will not interrupt the daily operations at Harrah’s New Orleans and the acquired property will remain included in the Total Rewards Network.
This comes after the recent regulatory consent granted to CGP by the Nevada Gaming Commission and the entity’s success in securing $700 million in financing to close on the purchase of The Cromwell, Bally’s Las Vegas and The Quad Resort & Casino from parent company Caesars Entertainment Corporation. Caesars Growth Partners plans on replacing this loan with $2 billion in financing, which will incorporate restructuring Planet Hollywood’s $485 million debt.
About Caesars Growth Partners
Caesars Growth Partners is an entertainment company that solely concentrates its efforts on growing a portfolio of high-growth operating assets and equity and debt investments with strong value potential through acquisitions in the interactive and gaming entertainment industries.
http://www.caesarsacquisitioncompany.com
Caesars Acquisition Company (NASDAQ: CACQ), Mitch Garber CEO and President is an equity stakeholder in Caesars Growth Partners, LLC through Caesars Interactive Entertainment where Mitch Garber Caesars also sits as CEO. The joint partnership is with Casino Properties and Developments, a subsidiary of parent company Caesars Entertainment Corporation (NASDAQ: CZR)
For more information visit
http://www.caesarsacquisitioncompany.com
http://www.caesarsinteractive.com
http://www.caesars.com
http://www.mitchgarber.com
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