Harrah’s gets regulator’s approval for Louisiana Downs sale
The $22m sale of the horse racing track and casino has been approved by the Louisiana Gaming Control Board (LGCB).
US.- The Louisiana Gaming Control Board has given the green light to the $22m sale of Harrah’s Louisiana Downs, the horse racing track and casino. Vici Properties received $5.5m, while Caesars received $16.5m from the purchase.
Kevin Preston, the president of Rubico, said the track was a Bossier City and Northwest Indiana iconic institution and that the company plans to restore it as an entertainment area for the whole family. Games and concessions are likely to be added to the casino.
One of the conditions of the sale of Harrah’s Louisiana Downs is that Rubico must keep the casino open. The casino is currently the main contributor to the operator’s profit.
Ronnie Johns, chairman of the LGCB said that if the sale did not go through, the risk of Caesars ultimately closing the iconic racetrack was high.
