May 9, 2018 / 10:35 AM / 2 months ago

BRIEF-Caesars Entertainment, Vici Properties Announce Letter Of Intent For Asset Sale, Lease Amendments

May 9 (Reuters) - Caesars Entertainment Corp:

* CAESARS ENTERTAINMENT, VICI PROPERTIES ANNOUNCE LETTER OF INTENT FOR ASSET SALE, LEASE AMENDMENTS

* CAESARS ENTERTAINMENT- LOI CONTEMPLATES VICI TO BUY FROM CAESARS REAL ESTATE ASSETS ASSOCIATED WITH OCTAVIUS TOWER AT CAESARS PALACE FOR $507.5 MILLION

* CAESARS ENTERTAINMENT - LOI CONTEMPLATES THAT VICI WILL ACQUIRE FROM CAESARS REAL ESTATE ASSETS ASSOCIATED WITH HARRAH'S PHILADELPHIA FOR $241.5 MILLION

* CAESARS ENTERTAINMENT - ENTERED INTO NON-BINDING LETTER OF INTENT RELATED TO ACQUISITION BY VICI PROPERTIES OF TWO REAL ESTATE ASSETS OWNED BY CAESARS

* CAESARS ENTERTAINMENT-PURCHASE PRICE OF $749 MILLION TO BE REDUCED BY $159 MILLION TO REFLECT CONSIDERATION DUE TO VICI RELATED TO PLANNED LEASE MODIFICATIONS

* CAESARS ENTERTAINMENT - WILL CONTINUE TO OPERATE BOTH PROPERTIES UNDER TERMS OF LONG-TERM LEASES BETWEEN CO, VICI

* CAESARS ENTERTAINMENT - PARTIES EXPECT TO ANNOUNCE DEFINITIVE AGREEMENTS IN COMING WEEKS, TO CONSUMMATE TRANSACTION IN PHASES BY FALL OF 2018 Source text for Eikon: Further company coverage:

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