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Caesars Entertainment announces sale of Rio for $516.3m

25th September 2019 9:24 am GMT
Caesars Entertainment

New York-listed casino operator Caesars Entertainment has agreed a deal to sell the Rio All-Suite Hotel & Casino to a principal of Imperial Companies for $516.3m

The transaction is expected to close in the fourth quarter of 2019, subject to regulatory approvals and other customary closing conditions. Under the agreement, Caesars will continue to operate the hotel for a minimum of two years and pay $45m in rent annually, with the buyer having [...]

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