RENO, Nev. and LAS VEGAS, Dec. 1, 2020 /PRNewswire/ — Caesars Amusement, Inc., (NASDAQ: CZR) (“Caesars” or “CZR”) these days announced a definitive arrangement to offer Belle of Baton Rouge to CQ Holding Enterprise, Inc. (On line casino Queen).
Pursuant to the terms of the amended lease arrangement with Gaming and Leisure Attributes, Baton Rouge will be taken off from the GLPI Learn Lease, and the hire payments to GLPI will remain unchanged. GLPI will retain possession of the real estate of Belle of Baton Rouge.
“I want to thank all of our Baton Rouge Crew Members for their tricky do the job and dedication, primarily throughout the COVID-19 pandemic,” said Tom Reeg, CEO of Caesars Amusement, Inc. “We desire them the ideal beneath Casino Queen’s ownership.”
The transaction is envisioned to shut in mid-2021 and is issue to regulatory approvals and other customary closing ailments.
Macquarie Capital and Milbank LLP represented Caesars Leisure on the transaction.
About Caesars Enjoyment, Inc.
Caesars Leisure, Inc. (NASDAQ: CZR) is the premier on line casino-amusement organization in the U.S. and one particular of the world’s most diversified casino-entertainment companies. Considering that its commencing in Reno, Nevada, in 1937, Caesars Leisure has grown by way of improvement of new resorts, expansions and acquisitions. Caesars Entertainment’s resorts operate largely less than the Caesars®, Harrah’s®, Horseshoe® and Eldorado® model names. Caesars Leisure offers diversified amenities and just one-of-a-form places, with a aim on developing loyalty and worth with its attendees by means of a special mix of impeccable service, operational excellence and technological innovation management. Caesars Entertainment is dedicated to its workers, suppliers, communities and the natural environment by way of its Persons Earth Engage in framework. For much more information, be sure to go to www.caesars.com/corporate.
This push release features “ahead-searching statements” inside the meaning of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Exchange Act of 1934, as amended. Ahead-hunting statements contain statements relating to the techniques, goals and options for potential improvement or acquisitions of qualities or operations of Caesars, as very well as expectations, future working results and other details that is not historic information and facts. When made use of in this push launch, the terms or phrases these types of as “anticipates,” “thinks,” “initiatives,” “options,” “intends,” “expects,” “might,” “may possibly,” “estimates,” “could,” “ought to,” “would,” “will most likely carry on,” and variations of this sort of terms or comparable expressions are intended to establish ahead-looking statements. Even though the anticipations, beliefs and projections are expressed in very good faith and with what is considered to be a fair foundation, there can be no assurance that these anticipations, beliefs and projections will be understood. There are a amount of risks and uncertainties that could trigger true final results to vary materially from those people expressed in the ahead-seeking statements which are integrated in other places in this press release. These dangers and uncertainties involve, with no limitation: (a) the consequences of the COVID-19 general public overall health unexpected emergency, like (i) the influence of the steps taken to contain the public overall health crisis or mitigate its affect, (ii) the immediate and indirect financial outcomes of the community health and fitness emergency and steps to include it (including a variety of condition governments’, tribal authorities’ and/or regulatory authorities’ issuance of directives, mandates, orders or equivalent steps limiting freedom of motion and business enterprise functions, these types of as travel limitations, border closures, business closures, constraints on community gatherings, quarantines and “shelter-at-house” orders, any of which might final result in the closure of organization functions) and (iii) changes and instability in global, countrywide and regional economic action and monetary market place activity as a consequence of the COVID-19 community wellbeing unexpected emergency and the effect on consumer discretionary shelling out and vacation, all of which are extremely uncertain and cannot be predicted with self-confidence (b) legislative, regulatory and economic developments, which include regulatory approval of the sale of Belle of Baton Rouge (c) the fact that the transactions contemplated by the transaction agreements for the sale of Belle of Baton Rouge could not be concluded on the conditions contemplated or at all, such as due to the fact the sale is conditioned on the receipt of regulatory approvals, and other closing situations, and the likely adverse reactions or improvements to small business, client, administration or employee relationships, together with all those resulting from the announcement or completion of the contemplated sale and (c) further factors talked over in the sections entitled “Possibility Aspects” and “Management’s Discussion and Evaluation of Economic Issue and Final results of Functions” in CZR’s respective most new Once-a-year Stories on Variety 10-K and Quarterly Studies on Sort 10-Q as filed with the Securities and Exchange Fee. Other unidentified or unpredictable components may well also cause actual outcomes to differ materially from these projected by the forward-seeking statements.
In gentle of these and other risks, uncertainties and assumptions, the ahead-seeking situations discussed in this push release might not take place. These ahead-on the lookout statements speak only as of the date of this press release, even if subsequently created obtainable on the internet sites of Caesars or otherwise, and Caesars does not intend to update publicly any ahead-on the lookout assertion to reflect occasions or situation that occur immediately after the day on which the assertion is manufactured, except as may possibly be demanded by regulation.
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