Caesars to sell southern Indiana casino to Cherokee tribe

Sunday 27th December 2020

Associated Press

ELIZABETH, Ind. -- Caesars Entertainment has reached an agreement to sell a southern Indiana casino to the North Carolina-based Eastern Band of Cherokee Indians for $250 million, the company said.

Caesars Entertainment officials announced the sale agreement for Caesars Southern Indiana on Thursday ahead of the company's Dec. 31 deadline to divest from the casino operation, located in the Harrison County town of Elizabeth, across the Ohio River from Louisville, Kentucky.

The agreement is an expansion of an existing partnership between the company and the Eastern Band of Cherokee Indians, or the EBCI, The News and Tribun e reported.

At the closing of the deal, EBCI will enter into a new lease with VICI Properties Inc. with annual payments of $32.5 million.

The 20-year-old casino retired its three-floor riverboat in late 2019 and moved into a new, $85 million land-based building that offers 100,000-square-feet (9,290-square-meters) of gambling space, including slot machines, table games, and poker, and room for dining and entertainment.

After it was acquired through a public merger with Eldorado Resorts Inc., Caesars was ordered by the Indiana Gaming Commission to sell three of its five casinos in the state.

Along with the Elizabeth casino, Caesars chose to sell its Evansville and Hammond properties.

For copyright information, check with the distributor of this item, News and Tribune, Jeffersonville, Ind..

Love 0 Funny 0 Wow 0 Sad 0 Angry 0 Locations North Carolina United States North America Jeffersonville Indiana Louisville Kentucky Tags General News Contracts And Orders Corporate News Business Casino Operators Hospitality And Leisure Industry Consumer Services Consumer Products And Services Gambling Industry Asset Sales Ownership Changes Caesars Entertainment Casino Commerce Eastern Band Of Cherokee Indians Indiana Elizabeth Official Riverboat * I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy. Associated Press

The AP is one of the largest and most trusted sources of independent newsgathering, supplying a steady stream of news to its members, international subscribers and commercial customers.

Follow Associated Press Close Get email notifications on {{subject}} daily! Your notification has been saved. There was a problem saving your notification.

{{description}}

Email notifications are only sent once a day, and only if there are new matching items.

Close Followed notifications Please log in to use this feature Don't have an account? Sign Up Today

Source
We use cookies and other tracking technologies to improve your browsing experience on our website, to show you personalized content and targeted ads, to analyze our website traffic, and to understand where our visitors are coming from. By browsing our website, you consent to our use of cookies and other tracking technologies. View more
Agree & Continue