Edition:
India

Caesars Entertainment & Vici Properties Announce Sale Of Harrah's Reno To CAI Investments


Thursday, 16 Jan 2020 

Jan 15 (Reuters) - Vici Properties Inc ::CAESARS ENTERTAINMENT AND VICI PROPERTIES INC. ANNOUNCE SALE OF HARRAH'S RENO TO CAI INVESTMENTS.VICI PROPERTIES INC - DEAL FOR $50 MILLION.VICI PROPERTIES INC - PROCEEDS OF TRANSACTION SHALL BE SPLIT 75% TO VICI AND 25% TO CAESARS.VICI PROPERTIES INC - ANNUAL RENT PAYMENTS UNDER NON-CPLV MASTER LEASE BETWEEN CAESARS AND VICI WILL REMAIN UNCHANGED.VICI PROPERTIES INC - AGREEMENT ALLOWS CAESARS TO CEASE OPERATIONS AT PROPERTY DURING H2 2020.VICI PROPERTIES - AGREEMENT ALLOWS FOR CAESARS TO RETAIN ITS GUEST DATA AND PLACES NO RESTRICTIONS ON CAESARS' MARKETING ACTIVITIES.VICI PROPERTIES INC - RENO WILL CONTINUE TO BE PART OF CAESARS REWARDS NETWORK DURING TERM OF SHORT-TERM LEASE WITH BUYER.