LAS VEGAS and NEW YORK, Nov. 18,
2020 /PRNewswire/ -- Caesars Entertainment, Inc.
(NASDAQ: CZR) ("Caesars Entertainment" or "Caesars") and VICI
Properties Inc. (NYSE:VICI) ("VICI Properties" or "VICI") today
announced they have completed the previously disclosed transaction
to sell Bally's Atlantic City to
Bally's Corporation (NYSE: BALY), previously known as Twin River
Worldwide Holdings Inc., for $25.0
million. The proceeds of the transaction were split
75% to VICI and 25% to Caesars, while the annual base rent payments
under the Regional Master Lease between Caesars and VICI remain
unchanged.
About Caesars Entertainment
Caesars Entertainment is the largest casino-entertainment
company in the U.S. and one of the world's most diversified
casino-entertainment providers. Since its beginning in Reno, Nevada, in 1937, Caesars Entertainment
has grown through development of new resorts, expansions and
acquisitions. Caesars Entertainment's resorts operate primarily
under the Caesars®, Harrah's®, Horseshoe® and Eldorado® brand
names. Caesars Entertainment offers diversified amenities and
one-of-a-kind destinations, with a focus on building loyalty and
value with its guests through a unique combination of impeccable
service, operational excellence and technology leadership. Caesars
Entertainment is committed to its employees, suppliers, communities
and the environment through its PEOPLE PLANET PLAY framework. For
more information, please visit www.caesars.com/corporate.
About VICI Properties
VICI Properties is an experiential real estate investment trust
that owns one of the largest portfolios of market-leading gaming,
hospitality and entertainment destinations, including the
world-renowned Caesars Palace. VICI Properties' national,
geographically diverse portfolio consists of 28 gaming facilities
comprising 47 million square feet and features approximately 18,000
hotel rooms and more than 200 restaurants, bars and nightclubs. Its
properties are leased to industry leading gaming and hospitality
operators, including Caesars, Century Casinos, Hard Rock
International, JACK Entertainment and Penn National Gaming. VICI
Properties also owns four championship golf courses and 34 acres of
undeveloped land adjacent to the Las Vegas Strip. VICI Properties'
strategy is to create the nation's highest quality and most
productive experiential real estate portfolio. For additional
information, please visit www.viciproperties.com.
Forward-Looking Statements
This press release includes forward-looking statements within
the meaning of the federal securities laws. You can identify these
statements by our use of the words "anticipates," "assumes,"
"believes," "estimates," "expects," "guidance," "intends," "plans,"
"projects," and similar expressions that do not relate to
historical matters. All statements other than statements of
historical fact are forward-looking statements. You should exercise
caution in interpreting and relying on forward-looking statements
because they involve known and unknown risks, uncertainties, and
other factors, which are, in some cases, beyond Caesars' and VICI's
control and could materially affect actual results, performance, or
achievements.
Although each of Caesars and VICI believe that in making such
forward-looking statements its expectations are based upon
reasonable assumptions, such statements may be influenced by
factors that could cause actual outcomes and results to be
materially different from those projected. Caesars and VICI
cannot assure you that the assumptions upon which these statements
are based will prove to have been correct. Important risk factors
that may affect their respective business, results of operations
and financial position (including, without limitation, the effects
of the COVID-19 public health emergency) are detailed from time to
time in each of Caesars' and VICI's filings with the Securities and
Exchange Commission. Neither Caesars nor VICI undertake any
obligation to update or revise any forward-looking statement,
whether as a result of new information, future events, or
otherwise, except as may be required by applicable law.
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SOURCE Caesars Entertainment, Inc.