Caesars Entertainment, Inc. (CZR), a casino-entertainment company, said Thursday it has agreed to sell the operations of Caesars Southern Indiana to the Eastern Band of Cherokee Indians or EBCI for $250 million, subject to customary purchase price adjustments. The transaction is expected to close in the third quarter of 2021.
At the closing of the transaction, EBCI will also enter into a new lease with year one annual rent payments of $32.5 million with VICI Properties Inc. (VICI), who maintains ownership of the real estate of the property.
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