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In an effort to free up cash, Caesars Entertainment has joined the list of Las Vegas gaming giants selling off properties. First, MGM Resorts unloaded the Bellagio in a deal to rent the property back. It was announced last week by a source close to PlaySlots4RealMoney.com of a similar sale by Caesars Entertainment.
- Dec 10, 2019 Play Slots 4 Real Money Informational Nevada USA Online Gambling News Caesars Entertainment Completes the Sale of The Rio All Suite Hotel Las Vegas December 10, 2019 Posted in Informational, Nevada, USA Online Gambling News by Rich Caesar. No Comments.
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How Much Does Caesars Entertainment Sell The Rio All Suite Hotel For?
This is real casino gaming with real money payouts, by the iconic Caesars brand that you know and trust. For more than 30 years, Caesars has been the gold standard in casino and sports wagering, and with the launch of the Caesars Casino & Sportsbook New Jersey online casino and app, the glamour of Vegas is right in your pocket.
This gaming company just completed the sale of the Rio All Suite Hotel and Casino for more than $516 million. The deal had been in the works for awhile before closing early this month. An official press release mentioned Dreamscape Companies as the buyer. This company is owned and operated by Eric Birnbaum. Mr. Birnbaum is the co-founder of Imperial Companies. Furthermore, this is a real estate firm. On December 8, we told readers how the glitzy Las Strip and old-school Vegas On Freemont Street are Contributing to a strong economy in Las Vegas.
Under the terms of the sale agreement, Caesars will continue to operate the Rio for the next two years. The rental cost is $45 million a year. This agreement could be extended past the current two-year window. Dreamscape has the option to extend the lease to a third year for $7 million. There is also the possibility of Caesars managing the property past the two-year lease. The company could also be a part of the transition over to Dreamscape.
Caesars also paid $40 million to help facilitate the sale through financing. This figure was reported in a filing with the Securities and Exchange Commission.
The terms also covered the Caesars Reward Program at the Rio. It will be continued for players during the entire term of the lease. Also covered was the immediate future of the World Series of Poker. This major poker event will stay at the Rio in 2020. Nothing was mentioned where this event might take place the following year. All slots no deposit signup bonus.
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Caesars Entertainment owns and operates Caesars Palace, Harrah’s and Bally’s in Las Vegas. This is just a part of its holdings that span across the country and reach around the globe.
Other Las Vegas properties in this group include:
- The Cromwell
- Flamingo Las Vegas
- The Linq
- Paris Las Vegas
- Planet Hollywood Las Vegas
Back in mid-November, Caesars shareholders approved the pending company merger with Eldorado Resorts. This deal was officially announced in June of this year, pending approval. It was reported that 87% of Eldorado shareholders approved the deal. Caesars’ numbers were a bit lower with 76% of shareholders giving their approval.
It is expected to take until June of 2020 for everything be finalized. The deal was valued at $17.3 billion. It still needs regulatory approval as part of the process.
Rumors of the plan to sell the Rio go as far back as 2005. As part of the deal with Eldorado, there is a concerted effort to slim down Caesars’ overall portfolio. Poker machine venues melbourne cbd. Another property mentioned in possible sales talks is Planet Hollywood.
The general trend towards selling off stand-alone properties by gaming giants should continue into 2020. Freeing up cash for other projects as well as enhancing stock price appears to be the common bond.
• Source: Caesars completes sale of Rio Hotel Casino for $516 million From news3lv.com On December 5, 2019.
We were able to stay for a couple of hours, only because we got there early and it was fairly empty. Grand casino mille lacs slot machines. As soon as more people came in, we had to leave. Our eyes were burning from all of the smoke, and we had to wash our clothes as soon as we got home to get the smell out of everything.
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Updates at Caesars Online Casino — January 2020
Caesars is going through some growing pains right now, although it still is an iconic (and successful) casino. However, late last year, it was announced that Caesars Entertainment was bought by Eldorado Resorts. Fortunately, as far as anyone knows, the new company has only planned for building the already well-established Caesars platform. The online entities seem to have the most attention is the online casinos and, especially, the online poker sites. Worry, not, though, outside of the deal, which is thought to be made final early this year, Caesars is combining with Eldorado. It is not becoming Eldorado, which means that between the two entities, there are now close to 60 properties in 16 states under Eldorado Resort’s business holdings umbrella.
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Another fortunate part is that even their online entities are safe, as Eldorado Resorts has physical ties in the areas where online gaming is legal. That helps ensure that Caesars’ online platforms will not be thrust into any messy legal battles.
For the players specifically, Caesars has not slowed down on their new game output. There are a fair number of new slots, table games, and scratch-off games available:
New Slot Games for January 2020
- GoldStruck
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- Mirror Mirror
- Legend of the White Buffalo
- Book of the Irish
- Magnificent Jewels
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New Table Games for January 2020:
- 100/1 Roulette
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New Scratch-Off Games for January 2020:
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