Caesars Sells Southern Indiana Casino to Cherokee Tribe in $250M Deal

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Virginia: Caesars eyeing temporary Danville casino opening by mid-2023

Gaming and hospitality giant Caesars Entertainment is eyeing the opening of a temporary Danville, Virginia casino in mid-2023. Executives for the company mentioned the plans during a third-quarter earnings call with investors held Tuesday. The opening would come more than a year before the debut of the permanent $650 million Caesars…

Sports ・ 03 November 2022

Sparks Tribune

Century Casinos executive: ‘If you’re a gaming company, wouldn’t you want to be in Nevada?’

Home / News / Century Casinos executive: 'If you're a gaming company, wouldn't you want to be in Nevada?' By Howard Stutz Century Casinos' pending $195 million acquisition of the Nugget Casino Resort in Sparks will rewrite the company's corporate profile. The regional casino operator, which began in Europe, doesn't have what gaming observers…

Travel ・ 20 September 2022

Smoky Mountain News

Tribe, Caesars break ground on $650 million Virginia casino project

The tribe, through EBCI Holdings LLC, will have a 49.5% stake in the project, as will Caesars. A business owner from the City of Danville will hold the remaining 1%, Sneed said. Once complete, Caesars Virginia will include a 500-room hotel and a gaming floor with more than 1300 slots, 85 live table games, 24 electronic table games, a World Series…

Sports ・ 17 August 2022

Review Journal

Caesars, Cherokee Indians partner on Virginia casino

Caesars Entertainment and the Eastern Band of Cherokee Indians announced a partnership Wednesday in the development of the $650 million Caesars Virginia. Construction is scheduled to begin this week on the Danville, Virginia project, which is slated to open in late 2024. The resort will include a 500-room hotel, 2500-seat live entertainment venue…

Sports ・ 10 August 2022

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Danville Register & Bee

Upping investment, Caesars teams up with Eastern Band of Cherokee Indians for Danville casino

Caesars Entertainment on Wednesday announced a joint venture partnership with the Eastern Band of Cherokee Indians to develop the new casino in Danville and upped its estimated investment in the transformational endeavor for the city. The $650 million project - expected to break ground later this week - is touted as a tourism engine for Danville's…

Sports ・ 10 August 2022

Gambling News

Caesars and EBCI to Build a $650M Casino in Virginia

Nasdaq-listed, leading company boasting the most prestigious gaming brands on the planet Caesars Entertainment has announced a joint venture partnership deal with the Eastern Band of Cherokee Indians (EBCI). According to the terms of the agreement, the two parties will work together to build and open Caesars Virginia, a $650 million casino in…

Sports ・ 10 August 2022

renx.ca

VICI acquires 4 PURE casinos in Alberta: $271.9M -RENX- Real Estate News Exchange

U.S.-based VICI Properties has acquired the real estate assets of four casinos and gaming facilities in Alberta from PURE Canadian Gaming for $271.9 million, the firm announced Monday morning. The facilities are the PURE Casino Edmonton, PURE Casino Yellowhead in Edmonton, PURE Casino Calgary, and PURE Casino Lethbridge. VICI has entered into a…

Land-based ・ 09 January 2023

The Street

Forget Caesars and MGM. The Las Vegas Strip Has a Secret Leader.

Las Vegas has a lot of big-name operators that grab the spotlight. Caesars Entertainment (CZR) - Get Caesars Entertainment Inc Report, for example, has its name splashed across its signature property, the massive Caesars Palace. It's not subtle, which makes sense given that the casino giant wants people to stay at its resorts, gamble in its casinos…

Land-based ・ 10 May 2022

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Caesars Nears Las Vegas Strip Casino Sale (It's More Complicated Than That)

Caesars Entertainment (CZR) - Get Caesars Entertainment Inc Report Chief Executive Tom Reeg spent $17.3 billion when his former company, Eldorado Resorts, bought the casino giant in 2020, The new company kept the Caesars name and took on roughly $13 billion in debt at the time of the deal. The combined company owns casinos all around the U.S. and…

Land-based ・ 09 May 2022

The Nevada Independent

How VICI Properties is quietly becoming landlord to the biggest casinos in Vegas

In the waning days of Caesars Entertainment's two-year bankruptcy reorganization, creditors struggled with a name for a new spin-off company taking ownership of 19 casinos that would control the land and lease the properties back to the operator. Consultants suggested Senatus Populusque Romanus, or SPQR, the term used for the government of ancient…

Travel ・ 23 November 2021

Smoky Mountain News

Cherokee announces record casino profits, plans for expansion

In the space of two days last week, the Eastern Band of Cherokee Indians announced its biggest per capita distribution and approved a loan agreement for a $275 million expansion to the Valley River casino in Murphy. On Dec. 1, tribal members will receive checks worth $8840 - or $7514 after taxes - from casino profits earned from April 1 through…

Covid ・ 12 November 2021

The Nevada Independent

A buyer’s market: Vegas Strip casinos a hot commodity

High-profile Las Vegas Strip resorts aren't put up for sale every day. Last week, however, Caesars Entertainment and MGM Resorts International, the Strip's two largest operators with a combined 17 properties, each said they wanted to part ways with a hotel-casino. In a year that has seen more than $30 billion in announced mergers and acquisition…

Covid ・ 08 November 2021

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Yogonet

Caesars finalizes $250M sale of Southern Indiana casino to Cherokees

aesars Entertainment has completed the previously announced sale of Caesars Southern Indiana operations to the Eastern Band of Cherokee Indians, confirmed the casino-entertainment company last Friday. The deal was secured by both parties for approximately $250 million. According to Caesars, in connection with this transaction, its annual base rent…

Gaming Authorities ・ 06 September 2021

Smoky Mountain News

Indiana approves EBCI casino purchase

The Gaming Commission approved Caesars Entertainment's sale of Caesars Southern Indiana Casino & Hotel to EBCI Holdings LLC at an Aug. 18 business meeting, and closing is now expected to occur in September. "We are delighted to move forward with Caesars and expand our already successful portfolio," said R. Scott Barber, CEO of EBCI Holdings, the…

Gaming Authorities ・ 24 September 2021

Vegas Slots Online

Indiana Gaming Commission Approves Caesars Casino Sale

In the state of Indiana, the gaming regulator has given its seal of approval to a deal between Caesars Entertainment and the Eastern Band of Cherokee Indians. Under the terms of the agreement, the former will sell its Caesars Southern Indiana casino to the tribe for a total of $250m. The Indiana Gaming Commission approved the sale during a meeting…

Gaming Authorities ・ 19 August 2021

Yogonet

The Indiana Gaming Commission approves Caesars Southern Indiana $250M sale

he Indiana Gaming Commission approved Wednesday, August 18 the sale of Caesars Southern Indiana casino to ECBI Holdings, a company run by the Eastern Band of Cherokee Indians tribe. Now cleared, the deal is expected to close at some point in the upcoming month. In December 2020, Caesars agreed to sell the casino to EBCI for $250 million. Caesars…

Gaming Authorities ・ 19 August 2021

Casino News Daily

Murphy Cherokee Casino Wins Key Approval for $275mn Expansion

The Tribal Council of the Eastern Band of Cherokee Indians (EBCI) last week approved a $275 million master plan to expand the tribe's Harrah's Cherokee Valley River Casino in Murphy, North Carolina. The master plan was not made available to the public. What has been made known is that it includes a set of different projects, but these are not named…

Travel ・ 15 July 2021

The Cherokee One Feather

Proposed tribal law would prohibit public indoor smoking at casino

A proposed change to the Cherokee Code would prohibit public indoor smoking at both Harrah's Cherokee Casino Resort and Harrah's Valley River Casino in Murphy - both owned and operated by the Eastern Band of Cherokee Indians (EBCI). The ordinance change, which is expected to be deemed read and tabled during the June session of Tribal Council,…

Covid ・ 23 May 2021

The Cherokee One Feather

Indiana casino purchase receives formal protest

Robert Saunooke, an attorney and member of of the Eastern Band of Cherokee Indians (EBCI), has submitted a formal protest to the EBCI Tribal Council regarding its decision to purchase the Caesars Southern Indiana casino for a reported $250 million. Resolution No. 363 (2020), which was submitted by Principal Chief Richard G. Sneed, was passed in a…

Land-based ・ 19 January 2021

Smoky Mountain News

Tribal members seek to reverse casino purchase

A group of 14 tribal members that includes two sitting Tribal Council members and a former principal chief has entered a resolution aiming to reverse a Dec. 17 vote to purchase the gaming operation at Caesars Southern Indiana Casino for $250 million. The protest letter and proposed resolution claim that the decision and the meeting in which it was…

Travel ・ 19 January 2021

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Caesars to sell southern Indiana casino to Cherokee tribe

ELIZABETH, Ind. (AP) - Caesars Entertainment has reached an agreement to sell a southern Indiana casino to the North Carolina-based Eastern Band of Cherokee Indians for $250 million, the company said. Caesars Entertainment officials announced the sale agreement for Caesars Southern Indiana on Thursday ahead of the company's Dec. 31 deadline to…

Gaming Authorities ・ 19 January 2021

The Nevada Independent

Indy Gaming: Expanded multi-state online gaming may not benefit Nevada

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz The inclusion of Michigan into the…

Industry ・ 22 October 2022