Caesars Entertainment, Inc today announced a definitive agreement to sell Belle of Baton Rouge to CQ Holding Company, Inc. (Casino Queen).
Pursuant to the terms of the amended lease agreement with Gaming and Leisure Properties, Baton Rouge will be removed from the GLPI Master Lease, and the rent payments to GLPI will remain unchanged. GLPI will retain ownership of the real estate of Belle of Baton Rouge.
“I want to thank all of our Baton Rouge Team Members for their hard work and dedication, especially during the COVID-19 pandemic,” said Tom Reeg, CEO of Caesars Entertainment, Inc. “We wish them the best under Casino Queen’s ownership.”
The transaction is expected to close in mid-2021 and is subject to regulatory approvals and other customary closing conditions.
Macquarie Capital and Milbank LLP represented Caesars Entertainment on the transaction.