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BRIEF-Caesars Entertainment Announces Harrah's Las Vegas Sale and Leaseback Agreement with VICI Properties‍​
November 29, 2017 / 9:46 PM / 16 days ago

BRIEF-Caesars Entertainment Announces Harrah's Las Vegas Sale and Leaseback Agreement with VICI Properties‍​

Nov 29 (Reuters) - Caesars Entertainment Corp:‍​

* CAESARS ENTERTAINMENT CORP - ‍ ANNOUNCED AGREEMENTS TO SELL AND LEASEBACK REAL ESTATE ASSETS ASSOCIATED WITH HARRAH‘S LAS VEGAS TO VICI PROPERTIES​

* CAESARS ENTERTAINMENT CORP - ‍ ANNOUNCED AGREEMENTS TO ACQUIRE ADJACENT LAND FROM VICI TO DEVELOP A PLANNED NEW 300,000 SQUARE FOOT CONVENTION CENTER​

* CAESARS ENTERTAINMENT - ‍UNDER TERMS OF HARRAH‘S SALE AGREEMENT, CO TO RECEIVE $1.14 BILLION IN CASH IN RETURN FOR HARRAH‘S LAS VEGAS’ REAL ESTATE ASSETS​

* CAESARS ENTERTAINMENT CORP - ‍PROCEEDS OF HARRAH‘S LAS VEGAS SALE WILL BE PRIMARY SOURCE OF FUNDS FOR PREVIOUSLY ANNOUNCED PURCHASE OF CENTAUR HOLDINGS

* CAESARS ENTERTAINMENT CORP - ‍CAESARS WILL CONTINUE TO OPERATE HARRAH‘S LAS VEGAS, INCLUDING GAMING, HOTEL OPERATIONS AND ALL OTHER AMENITIES​

* CAESARS ENTERTAINMENT-RENT FOR HARRAH‘S LAS VEGAS TO INCREASE CONTRACTUALLY IN SUBSEQUENT YRS, CO TO HAVE OPTION TO EXTEND LEASE FOR ADDITIONAL 20 YRS

* CAESARS ENTERTAINMENT CORP - ‍VICI HAS SECURED COMMITTED FINANCING TO FUND PURCHASE​

* CAESARS ENTERTAINMENT-AS PART OF DEAL ‍CO, VICI TO ENTER 15-YEAR LEASE FOR HARRAH‘S LAS VEGAS UNDER WHICH CO WILL PAY INITIAL ANNUAL RENT OF $87.4 MILLION​ Source text for Eikon: Further company coverage:

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