Bally's Atlantic City Casino sold for $25m
Monday 27th April 2020
Caesars Entertainment and VICI Properties have announced an agreement to sell Bally's Atlantic City Hotel and Casino to Twin River Worldwide Holdings for $25m in cash.
VICI will receive $19m and Caesars the remainder for the venue in the US state of New Jersey. "We look forward to the reopening of Bally's Atlantic City as soon as appropriate once the public health emergency related to Covid-19 has passed," said Caesars CEO Tony Rodio.
Following the sale, Caesars will continue to operate Caesars Atlantic City, which will include the Wild Wild West casino area and The Book sports wagering facility and Harrah's Resort Atlantic City. VICI Properties will continue to own the land and real estate associated with Caesars Atlantic City, including the Wild Wild West casino area.
Twin River owns and manages seven casinos, two in Rhode Island, one in Mississippi, one in Delaware and three casinos as well as a horse racetrack that has 13 authorised OTB licences in Colorado.