The transaction was approved Monday
Harrah’s New Orleans under new ownship
2014-05-22
Reading time 29 seg
(US).- Caesars Entertainment finalized the sale of Harrah’s New Orleans to Caesars Growth Partners on Tuesday after receiving approval from the Louisiana Gaming Control Board. The transaction was approved Monday. Harrah’s New Orleans remains part of the Total Rewards network. There will be no change in day-to-day operations as a result of the transaction.
In conjunction with the closing, Caesars Growth Partners refinanced the loan secured in connection with the purchase of three Las Vegas properties - Bally’s Las Vegas, The Cromwell and The Quad - with US$2 billion in financing. The financing includes refinancing US$476.9 million in debt covering Planet Hollywood.
Harrah’s New Orleans remains part of the Total Rewards network. There will be no change in day-to-day operations as a result of the transaction.
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