RENO, Nev. and LAS VEGAS, Dec. 23,
2020 /PRNewswire/ -- Caesars Entertainment, Inc. (NASDAQ:
CZR) ("Caesars" or "CZR") today announced the closing of the sale
of Eldorado Resort Casino Shreveport to Bally's Corporation for
$140 million in net proceeds, subject
to a customary working capital adjustment.
"The completion of the sale of Eldorado Resort Casino Shreveport
satisfies the Federal Trade Commission request to divest the asset
in connection with the Caesars-Eldorado transaction which closed
earlier this year," said Tom Reeg,
CEO of Caesars Entertainment, Inc. "Since our acquisition of the
property fifteen years ago, our Team Members' passion and
commitment have driven our success in Shreveport. We wish all
of them continued success under Bally's ownership."
Macquarie Capital and Milbank LLP represented Caesars
Entertainment on the transaction.
About Caesars Entertainment, Inc.
Caesars
Entertainment, Inc. (NASDAQ: CZR) is the largest
casino-entertainment company in the U.S. and one of the world's
most diversified casino-entertainment providers. Since its
beginning in Reno, Nevada, in
1937, Caesars Entertainment has grown through development of new
resorts, expansions and acquisitions. Caesars Entertainment's
resorts operate primarily under the Caesars®, Harrah's®, Horseshoe®
and Eldorado® brand names. Caesars Entertainment offers diversified
amenities and one-of-a-kind destinations, with a focus on building
loyalty and value with its guests through a unique combination of
impeccable service, operational excellence and technology
leadership. Caesars Entertainment is committed to its employees,
suppliers, communities and the environment through its PEOPLE
PLANET PLAY framework. For more information, please visit
www.caesars.com/corporate.
Forward-Looking Statements
This press release
includes forward-looking statements within the meaning of the
federal securities laws. You can identify these statements by our
use of the words "anticipates," "assumes," "believes," "estimates,"
"expects," "guidance," "intends," "plans," "projects," and similar
expressions that do not relate to historical matters. All
statements other than statements of historical fact are
forward-looking statements. You should exercise caution in
interpreting and relying on forward-looking statements because they
involve known and unknown risks, uncertainties, and other factors
which are, in some cases, beyond Caesars' control and could
materially affect actual results, performance, or achievements.
Although Caesars believes that in making such forward-looking
statements its expectations are based upon reasonable assumptions,
such statements may be influenced by factors that could cause
actual outcomes and results to be materially different from those
projected. Caesars cannot assure you that the assumptions
upon which these statements are based will prove to have been
correct. Important risk factors that may affect their respective
business, results of operations and financial position are detailed
from time to time in Caesars' filings with
the Securities and Exchange Commission. Caesars does not
undertake any obligation to update or revise any forward-looking
statement, whether as a result of new information, future events,
or otherwise, except as may be required by applicable law.
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SOURCE Caesars Entertainment, Inc.