Benzinga | Sep 3, 2020 04:20PM EDT

Caesars Entertainment And VICI Properties Announce Sale Of Harrah's Louisiana Downs To Rubico Acquisition For $22.0M

RENO, Nev. and LAS VEGAS, Sept. 3, 2020 /PRNewswire/ -- Caesars Entertainment, Inc., (NASDAQ:CZR) ("Caesars" or "CZR") and VICI Properties Inc. (NYSE:VICI) ("VICI Properties" or "VICI") today announced definitive agreements to sell Harrah's Louisiana Downs Casino, Racing & Entertainment ("Harrah's Louisiana Downs") to Rubico Acquisition Corp. for $22.0 million. The proceeds of the transactions shall be split $5.5 million to VICI Properties and $16.5 million to Caesars subject to customary adjustments for cash and net working capital. The annual base rent payments under the Regional Master Lease between Caesars and VICI will remain unchanged.