Caesars Entertainment to maintain ownership of three casinos in Indiana

25th June 2021 9:49 am GMT
Caesars Entertainment

New York-listed casino operator Caesars Entertainment has confirmed that it no longer has to sell its Horseshoe Hammond casino in Indiana.

This follows a decision by the Indiana Gaming Commission (IGC) to amend an earlier order requiring Caesars to sell a third land-based casino in the state as part of Eldorado Resorts’ $17.3bn takeover of the company, which completed last year.

As a result, Caesars will continue to own and operate Horseshoe Hammond, Indiana Grand, Harrah's Hoosier Park, and its three off-track betting locations in Indiana.

“We are confident that our continued operating of Horseshoe Hammond is in the best interest of our Team Members, guests, the Hammond community, and the state of Indiana,” said Caesars Entertainment CEO Tom Reeg.

“We believe that maintaining our strong customer and employee relationships at Horseshoe Hammond makes the property best positioned for a strong and exciting future.”

Caesars recently closed on the sale of Tropicana Evansville to Bally’s Corporation, and expects to close on the sale of Caesars Southern Indiana to the Eastern Band of Cherokee Indians during the third quarter of 2021.

Shares in Caesars Entertainment Inc (NSQ:CZR) closed 1.46 per cent higher at $104.73 per share in New York Thursday.

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