{"id":384552,"date":"2020-11-18T17:33:22","date_gmt":"2020-11-18T22:33:22","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=384552"},"modified":"2020-11-18T17:33:22","modified_gmt":"2020-11-18T22:33:22","slug":"caesars-entertainment-and-vici-properties-complete-sale-of-ballys-atlantic-city","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/caesars-entertainment-and-vici-properties-complete-sale-of-ballys-atlantic-city\/","title":{"rendered":"Caesars Entertainment and VICI Properties Complete Sale of Bally\u2019s Atlantic City"},"content":{"rendered":"

<\/p>\n

Caesars Entertainment and VICI Properties Complete Sale of Bally\u2019s Atlantic City<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nCaesars Entertainment, Inc. (NASDAQ: CZR) (\u201cCaesars Entertainment\u201d or \u201cCaesars\u201d) and VICI Properties Inc. (NYSE:VICI) (\u201cVICI Properties\u201d or \u201cVICI\u201d) today announced they have completed the previously disclosed transaction to sell Bally\u2019s Atlantic City to Bally\u2019s Corporation (NYSE: BALY), previously known as Twin River Worldwide Holdings Inc., for $25.0 million. The proceeds of the transaction were split 75% to VICI and 25% to Caesars, while the annual base rent payments under the Regional Master Lease between Caesars and VICI remain unchanged.\n<\/p>\n

This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20201118006119\/en\/<\/a><\/p>\n

About Caesars Entertainment<\/b><\/p>\n

\nCaesars Entertainment is the largest casino-entertainment company in the U.S. and one of the world’s most diversified casino-entertainment providers. Since its beginning in Reno, Nevada, in 1937, Caesars Entertainment has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment’s resorts operate primarily under the Caesars\u00ae, Harrah’s\u00ae, Horseshoe\u00ae and Eldorado\u00ae brand names. Caesars Entertainment offers diversified amenities and one-of-a-kind destinations, with a focus on building loyalty and value with its guests through a unique combination of impeccable service, operational excellence and technology leadership. Caesars Entertainment is committed to its employees, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. For more information, please visit www.caesars.com\/corporate<\/a>.\n<\/p>\n

About VICI Properties<\/strong><\/p>\n

\nVICI Properties is an experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including the world-renowned Caesars Palace. VICI Properties\u2019 national, geographically diverse portfolio consists of 28 gaming facilities comprising 47 million square feet and features approximately 18,000 hotel rooms and more than 200 restaurants, bars and nightclubs. Its properties are leased to industry leading gaming and hospitality operators, including Caesars, Century Casinos, Hard Rock International, JACK Entertainment and Penn National Gaming. VICI Properties also owns four championship golf courses and 34 acres of undeveloped land adjacent to the Las Vegas Strip. VICI Properties\u2019 strategy is to create the nation\u2019s highest quality and most productive experiential real estate portfolio. For additional information, please visit www.viciproperties.com<\/a>.\n<\/p>\n

Forward-Looking Statements<\/b><\/p>\n

\nThis 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 \u201canticipates,\u201d \u201cassumes,\u201d \u201cbelieves,\u201d \u201cestimates,\u201d \u201cexpects,\u201d \u201cguidance,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cprojects,\u201d and similar expressions that do not relate to historical matters. All statements other than statements of historical fact are forward-looking statements. 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\u2019 and VICI\u2019s control and could materially affect actual results, performance, or achievements.\n<\/p>\n

\nAlthough each of Caesars and VICI believe that in making such forward-looking statements its expectations are based upon reasonable assumptions, such statements may be influenced by factors that could cause actual outcomes and results to be materially different from those projected. Caesars and VICI cannot assure you that the assumptions upon which these statements are based will prove to have been correct. Important risk factors that may affect their respective business, results of operations and financial position (including, without limitation, the effects of the COVID-19 public health emergency) are detailed from time to time in each of Caesars\u2019 and VICI\u2019s filings with the Securities and Exchange Commission. Neither Caesars nor VICI 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.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201118006119\/en\/<\/a><\/span><\/p>\n

\nFor Caesars Entertainment:
\n
Investor Relations:
\n
Investor_Inquiries@caesars.com
\n<\/a>
800-318-0047<\/p>\n

Or<\/p>\n

Brian Agnew, bagnew@caesars.com
\n<\/a>
Charise Crumbley, ccrumbley@caesars.com
\n<\/a><\/p>\n

For VICI Properties:
\n
Investors:
\n
Investors@viciproperties.com
\n<\/a>
(646) 949-4631<\/p>\n

Or<\/p>\n

David Kieske
\n
EVP, Chief Financial Officer
\n
DKieske@viciproperties.com
\n<\/a><\/p>\n

Danny Valoy
\n
Vice President, Finance
\n
DValoy@viciproperties.com<\/a><\/p>\n

KEYWORDS:<\/b> New York New Jersey United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Entertainment Commercial Building & Real Estate Lodging Construction & Property Destinations Travel Casino\/Gaming<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n\n\n\n
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Caesars Entertainment and VICI Properties Complete Sale of Bally\u2019s Atlantic City NEW YORK–(BUSINESS WIRE)– Caesars Entertainment, Inc. (NASDAQ: CZR) (\u201cCaesars Entertainment\u201d or \u201cCaesars\u201d) and VICI Properties Inc. (NYSE:VICI) (\u201cVICI Properties\u201d or \u201cVICI\u201d) today announced they have completed the previously disclosed transaction to sell Bally\u2019s Atlantic City to Bally\u2019s Corporation (NYSE: BALY), previously known as Twin River Worldwide Holdings Inc., for $25.0 million. The proceeds of the transaction were split 75% to VICI and 25% to Caesars, while the annual base rent payments under the Regional Master Lease between Caesars and VICI remain unchanged. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20201118006119\/en\/ About Caesars Entertainment Caesars Entertainment is the largest casino-entertainment company in the U.S. and one of … <\/p>\n

Continue reading “Caesars Entertainment and VICI Properties Complete Sale of Bally\u2019s Atlantic City”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-384552","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nCaesars Entertainment and VICI Properties Complete Sale of Bally\u2019s Atlantic City - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/caesars-entertainment-and-vici-properties-complete-sale-of-ballys-atlantic-city\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Caesars Entertainment and VICI Properties Complete Sale of Bally\u2019s Atlantic City - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Caesars Entertainment and VICI Properties Complete Sale of Bally\u2019s Atlantic City NEW YORK–(BUSINESS WIRE)– Caesars Entertainment, Inc. (NASDAQ: CZR) (\u201cCaesars Entertainment\u201d or \u201cCaesars\u201d) and VICI Properties Inc. (NYSE:VICI) (\u201cVICI Properties\u201d or \u201cVICI\u201d) today announced they have completed the previously disclosed transaction to sell Bally\u2019s Atlantic City to Bally\u2019s Corporation (NYSE: BALY), previously known as Twin River Worldwide Holdings Inc., for $25.0 million. The proceeds of the transaction were split 75% to VICI and 25% to Caesars, while the annual base rent payments under the Regional Master Lease between Caesars and VICI remain unchanged. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20201118006119\/en\/ About Caesars Entertainment Caesars Entertainment is the largest casino-entertainment company in the U.S. and one of … Continue reading "Caesars Entertainment and VICI Properties Complete Sale of Bally\u2019s Atlantic City"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/caesars-entertainment-and-vici-properties-complete-sale-of-ballys-atlantic-city\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-18T22:33:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20201118006119r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/caesars-entertainment-and-vici-properties-complete-sale-of-ballys-atlantic-city\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/caesars-entertainment-and-vici-properties-complete-sale-of-ballys-atlantic-city\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Caesars Entertainment and VICI Properties Complete Sale of Bally\u2019s Atlantic City\",\"datePublished\":\"2020-11-18T22:33:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/caesars-entertainment-and-vici-properties-complete-sale-of-ballys-atlantic-city\\\/\"},\"wordCount\":694,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/caesars-entertainment-and-vici-properties-complete-sale-of-ballys-atlantic-city\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20201118006119r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/caesars-entertainment-and-vici-properties-complete-sale-of-ballys-atlantic-city\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/caesars-entertainment-and-vici-properties-complete-sale-of-ballys-atlantic-city\\\/\",\"name\":\"Caesars Entertainment and VICI Properties Complete Sale of Bally\u2019s Atlantic City - 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