Daniel Suddeath tweeted about Caesars entertainment that Caesar Southern Indiana is sold to EBCI.
He reveals on his Twitter that Caesar Entertainment has reached an agreement of selling Caesars Southern Indiana.
It was announced by Caesar Entertainment, on Thursday morning that Casino operations will be sold to Carolina-based Eastern Band of Cherokee Indians or EBCI.
It was supposed to be an enlargement of an existing partnership between the two organizations.
This senior reporter at News and Tribune (Daniel Suddeath) mentioned that EBCI will pay $250 million for the operation.
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EBCI will become a part of a new lease with VICI Properties Inc. with annual payments of $32.5 million, at the closing of the deal.
Tom Reeg (CEO of Caesars Entertainment) said in the news release, “Expanding our relationship with the Eastern Band of Cherokee Indians is an exciting event for Caesars Entertainment.”
He also mentions that since their partnership began back in 1996, they always have praised their growth and success of properties.
Tom Reeg additionally said admiring them, “we look forward to increasing our relationship by extending the Caesars brand and Caesars Rewards loyalty program to them at Caesars Southern Indiana”
It was also the part of the deal that allows EBCI to use Caesars’ brand and loyalty rewards program at the Southern Indiana Casino.
Chief Richard Sneed (EBCI principal) claimed that it would be an amazing start to an exciting new future.
He said the purchase of Caesars Southern Indiana Operating Company marks the incredible beginning of success for the Eastern Band of Cherokee Indians.
Building a partnership with Caesars, they are looking forward to advancing their interests in commercial gaming in the coming years.
Indiana Gaming Commission ordered Caesars to sell three of its five casinos in the state.
In 1998, Casino Operations began in Elizabeth as a riverboat, but it was turned down on referendum before it landed in Harrison County.
And in 2019, the Casino progressed to a land-based operation inside a $90 million facility.