RENO, Nev. and LAS VEGAS, Dec. 1, 2020 /PRNewswire/ — Caesars Leisure, Inc., (NASDAQ: CZR) (“Caesars” or “CZR”) at present introduced a definitive settlement to promote Belle of Baton Rouge to CQ Holding Firm, Inc. (On line casino Queen).
Pursuant to the phrases of the amended lease settlement with Gaming and Leisure Properties, Baton Rouge can be faraway from the GLPI Grasp Lease, and the hire funds to GLPI will stay unchanged. GLPI will retain possession of the actual property of Belle of Baton Rouge.
“I need to thank all of our Baton Rouge Staff Members for his or her arduous work and dedication, particularly in the course of the COVID-19 pandemic,” stated Tom Reeg, CEO of Caesars Leisure, Inc. “We want them the very best beneath On line casino Queen’s possession.”
The transaction is anticipated to shut in mid-2021 and is topic to regulatory approvals and different customary closing situations.
Macquarie Capital and Milbank LLP represented Caesars Leisure on the transaction.
About Caesars Leisure, Inc.
Caesars Leisure, Inc. (NASDAQ: CZR) is the biggest casino-entertainment firm within the U.S. and one of many world’s most diversified casino-entertainment suppliers. Since its starting in Reno, Nevada, in 1937, Caesars Leisure has grown by way of improvement of latest resorts, expansions and acquisitions. Caesars Leisure’s resorts function primarily beneath the Caesars®, Harrah’s®, Horseshoe® and Eldorado® model names. Caesars Leisure gives diversified facilities and one-of-a-kind locations, with a concentrate on constructing loyalty and worth with its visitors by way of a singular mixture of impeccable service, operational excellence and know-how management. Caesars Leisure is dedicated to its staff, suppliers, communities and the surroundings by way of its PEOPLE PLANET PLAY framework. For extra data, please go to www.caesars.com/corporate.
This press launch contains “forward-looking statements” inside the which means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934, as amended. Ahead-looking statements embrace statements concerning the methods, aims and plans for future improvement or acquisitions of properties or operations of Caesars, in addition to expectations, future working outcomes and different data that’s not historic data. When used on this press launch, the phrases or phrases reminiscent of “anticipates,” “believes,” “initiatives,” “plans,” “intends,” “expects,” “would possibly,” “could,” “estimates,” “might,” “ought to,” “would,” “will possible proceed,” and variations of such phrases or comparable expressions are supposed to establish forward-looking statements. Though the expectations, beliefs and projections are expressed in good religion and with what’s believed to be an affordable foundation, there might be no assurance that these expectations, beliefs and projections can be realized. There are a variety of dangers and uncertainties that would trigger precise outcomes to vary materially from these expressed within the forward-looking statements that are included elsewhere on this press launch. These dangers and uncertainties embrace, with out limitation: (a) the consequences of the COVID-19 public well being emergency, together with (i) the impression of the actions taken to include the general public well being emergency or mitigate its impression, (ii) the direct and oblique financial results of the general public well being emergency and measures to include it (together with numerous state governments’, tribal authorities’ and/or regulatory authorities’ issuance of directives, mandates, orders or comparable actions proscribing freedom of motion and enterprise operations, reminiscent of journey restrictions, border closures, enterprise closures, limitations on public gatherings, quarantines and “shelter-at-home” orders, any of which can outcome within the closure of enterprise operations) and (iii) modifications and instability in international, nationwide and regional financial exercise and monetary market exercise because of the COVID-19 public well being emergency and the impression on client discretionary spending and journey, all of that are extremely unsure and can’t be predicted with confidence; (b) legislative, regulatory and financial developments, together with regulatory approval of the sale of Belle of Baton Rouge; (c) the truth that the transactions contemplated by the transaction agreements for the sale of Belle of Baton Rouge is probably not accomplished on the phrases contemplated or in any respect, together with as a result of the sale is conditioned upon the receipt of regulatory approvals, and different closing situations, and the potential adversarial reactions or modifications to enterprise, buyer, administration or worker relationships, together with these ensuing from the announcement or completion of the contemplated sale; and (c) further elements mentioned within the sections entitled “Danger Elements” and “Administration’s Dialogue and Evaluation of Monetary Situation and Outcomes of Operations” in CZR’s respective most up-to-date Annual Experiences on Type 10-Okay and Quarterly Experiences on Type 10-Q as filed with the Securities and Alternate Fee. Different unknown or unpredictable elements may trigger precise outcomes to vary materially from these projected by the forward-looking statements.
In gentle of those and different dangers, uncertainties and assumptions, the forward-looking occasions mentioned on this press launch won’t happen. These forward-looking statements communicate solely as of the date of this press launch, even when subsequently made out there on the web sites of Caesars or in any other case, and Caesars doesn’t intend to replace publicly any forward-looking assertion to replicate occasions or circumstances that happen after the date on which the assertion is made, besides as could also be required by legislation.
Supply: Caesars Leisure, Inc.
SOURCE Caesars Leisure, Inc.