The sale of the casino is expected to be finalised by mid-2021.
US.- Caesars Entertainment has announced that it will sell its Belle of Baton Rouge casino in California to CQ Holding Company.
In accordance with the lease agreement with Gaming and Leisure Properties (GLPI), Belle of Baton Rouge will be removed from GLPI’s master lease but GLPI will retain ownership of the property and rent payments will remain the same.
The sale is expected to be finalised by mid-2021, although it is subject to certain regulatory approvals and other customary closing conditions.
Tom Reeg, CEO of Caesars, said in a statement: “I want to thank all of our Baton Rouge Team Members for their hard work and dedication, especially during the COVID-19 pandemic. We wish them the best under Casino Queen’s ownership.”
Caesars must also sell three properties in Indiana under conditions imposed to prevent market concentration following its merger with Eldorado. This week, the Indiana Gaming Commission (IGC) granted it a one-year extension on the deadline to sell its Hammond casino property.