is bally's casino closing in atlantic city

“This transaction allows us to maintain the existing financial terms of our master lease with Caesars and helps balance our geographic diversification as we work to complete the acquisition of Harrah’s Resort Atlantic City.”įollowing the sale, Caesars will continue to operate Caesars Atlantic City, which will include the Wild Wild West casino area and The Book sports wagering facility, and Harrah’s Resort Atlantic City. “The sale of Bally’s Atlantic City demonstrates our ongoing commitment to work collaboratively with our tenants to optimize our individual businesses, even during these unprecedented times,” said John Payne, President and COO of VICI Properties. “We appreciate Twin River’s commitment to this property, which has a great future ahead under its stewardship.” “We look forward to the reopening of Bally’s Atlantic City as soon as appropriate once the public health emergency related to COVID-19 has passed,” said Caesars CEO Tony Rodio. The annual base rent payments under the Non-CPLV Master Lease between Caesars and VICI remain unchanged. VICI will receive approximately $19 million from the sale, while Caesars will receive approximately $6 million. (NYSE:TRWH) for approximately $25 million in cash. (“VICI” or “VICI Properties”) (NYSE: VICI) today announced they have reached an agreement to sell the Bally’s Atlantic City Hotel & Casino to Twin River Worldwide Holdings Inc. NEW YORK-( BUSINESS WIRE)-Caesars Entertainment Corporation ('Caesars' or 'Caesars Entertainment') (NASDAQ:CZR) and VICI Properties Inc.

Is bally's casino closing in atlantic city