Caesars Entertainment, Inc. Enters into Definitive Agreement to Sell the LINQ Promenade
29 Octobre 2024 - 10:00PM
Business Wire
Caesars Entertainment, Inc. (NASDAQ: CZR) (“Caesars”) today
announced an agreement to sell the LINQ Promenade to a joint
venture to be formed between TPG Real Estate (“TPG”) and the
Investment Management Platform of Acadia Realty Trust (“Acadia”)
for $275 million. This sale is subject to customary approvals and
other closing conditions and is expected to close during the fourth
quarter 2024.
“The sale of the LINQ Promenade represents an accretive,
non-core asset sale that will accelerate our debt reduction goals.
I want to thank all the team members and the tenants of the LINQ
Promenade for their partnership over the last 10 years and wish
them continued success,” said Tom Reeg, CEO of Caesars
Entertainment, Inc.
Latham & Watkins LLP and Brownstein Hyatt Farber and
Schreck, LLP represented Caesars on the transaction. Kirkland &
Ellis LLP provided transaction counsel to TPG & Acadia.
About Caesars Entertainment, Inc.
Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest
casino-entertainment company in the US and one of the world’s most
diversified casino-entertainment providers. Since its beginning in
Reno, NV, in 1937, Caesars Entertainment, Inc. has grown through
development of new resorts, expansions and acquisitions. Caesars
Entertainment, Inc.’s resorts operate primarily under the Caesars®,
Harrah’s®, Horseshoe®, and Eldorado® brand names. Caesars
Entertainment, Inc. offers diversified gaming, entertainment and
hospitality amenities, one-of-a-kind destinations, and a full suite
of mobile and online gaming and sports betting experiences. All
tied to its industry-leading Caesars Rewards loyalty program, the
company focuses on building value with its guests through a unique
combination of impeccable service, operational excellence and
technology leadership. Caesars is committed to its employees,
suppliers, communities and the environment through its PEOPLE
PLANET PLAY framework. Know When To Stop Before You Start.®
Gambling Problem? Call 1-800-522-4700. 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. Forward-looking statements include all
statements other than statements of historical fact, including
statements regarding market performance and expected timing of
consummation of operations. 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 forward-looking 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. 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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version on businesswire.com: https://www.businesswire.com/news/home/20241029840590/en/
Investor Relations: Brian Agnew, bagnew@caesars.com; Charise
Crumbley, ccrumbley@caesars.com, 800-318-0047
Media Relations: Kate Whiteley, kwhiteley@caesars.com
Caesars Entertainment (NASDAQ:CZR)
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