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Caesars to sell Harrah's Las Vegas real estate assets for $1.14 bln
November 29, 2017 / 10:08 PM / 15 days ago

Caesars to sell Harrah's Las Vegas real estate assets for $1.14 bln

Nov 29 (Reuters) - Casino operator Caesars Entertainment Corp said on Wednesday it would sell the real estate assets of the Harrah’s Las Vegas hotel to VICI Properties for $1.14 billion in cash.

Caesars, which will continue to operate Harrah’s Las Vegas, said it would use the proceeds of the sale to fund its $1.7 billion purchase of casino company Centaur Holdings LLC.

Caesars will also buy 18.4 acres of land from VICI to develop a 300,000 square-foot convention center. (Reporting by Akshara P in Bengaluru; editing by Sai Sachin Ravikumar)

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