Menu

House of CardsĀ®

Blog

Eastern Band of Cherokee Indians gains $250m Caesars Southern Indiana from CasinoBeats

casinobeats

Caesars Entertainment and real estate investment trust Vici Properties have announced a definitive agreement to sell the operations of Caesars Southern Indiana to the Eastern Band of Cherokee Indians for $250m.

In addition, at the closing of the transaction, EBCI will enter into a new lease with year one annual rent payments of $32.5m with Vici Properties, who maintains ownership of the real estate of the property.

As a result of this transaction, Caesars annual payments to Vici Properties under the regional master lease will decline by $32.5m upon closing.

John Payne, president and COO of Vici Properties, said of the agreement: “This transaction provides additional tenant diversification and continues to build Vici’s embedded growth pipeline while allowing Caesars to further their strategic objectives in Indiana.

CONTINUE READING

Go Back

Comment

Blog Search

Blog Archive

Comments

There are currently no blog comments.