Edition:
India

Caesars Entertainment Announces Sale of the Rio to Principal of Imperial Companies


Monday, 23 Sep 2019 

Sept 23 (Reuters) - Caesars Entertainment Corp ::CAESARS ENTERTAINMENT CORP - UNDER TERMS OF AGREEMENT, CAESARS WILL CONTINUE TO OPERATE PROPERTY PURSUANT TO A LEASE FOR A MINIMUM OF TWO YEARS.CAESARS ENTERTAINMENT CORP - UNDER TERMS CAESARS WILL PAY ANNUALIZED RENT OF $45 MILLION.CAESARS ENTERTAINMENT CORP - BUYER HAS OPTION TO PAY CAESARS $7 MILLION TO EXTEND LEASE UNDER SIMILAR TERMS FOR A THIRD YEAR.CAESARS ENTERTAINMENT CORP - RIO WILL CONTINUE TO BE PART OF CAESARS REWARDS NETWORK DURING LEASE TERM.CAESARS ENTERTAINMENT - SIGNED AGREEMENT TO SELL RIO ALL-SUITE HOTEL & CASINO TO COMPANY CONTROLLED BY PRINCIPAL OF IMPERIAL COMPANIES FOR $516.3 MILLION.CAESARS ENTERTAINMENT - AGREEMENT ALLOWS FOR CO-OWNERSHIP OF RIO-SPECIFIC GUEST DATA AND PLACES NO RESTRICTIONS ON CAESARS' MARKETING ACTIVITIES.CAESARS ENTERTAINMENT ANNOUNCES SALE OF RIO TO PRINCIPAL OF IMPERIAL COMPANIES.CAESARS ENTERTAINMENT - WORLD SERIES OF POKER WILL BE HOSTED AT RIO IN 2020 AND HOSTING RIGHTS WILL REMAIN WITH CO THEREAFTER.