Caesars Entertainment Inc. announced today that it will sell its Southern Indiana operation to Eastern Band of Cherokee Indians (EBCI) for $250 million. Once the deal has been completed, EBCI will then enter into a new annual lease agreement with property owner VICI Properties Inc. for $32.5 million per annum. EBCI will continue to use the Caesars (CZR) brand and Rewards loyalty program at Caesars Southern Indiana as agreed by both parties after the transaction has been completed.