Caesars Entertainment is to retain ownership of Horseshoe Hammond in Indiana after the state regulator changed an order requiring the company to unload a third casino property in the state.
Indiana Gaming Commission imposed an injunction as a condition to approve the July 2020 merger of Caesars and Eldorado Resorts in a 17 $ cash and stock deal.
Much of the sale was made by the group in the weeks and months leading up to completion, which was hailed as the creation of America's largest casino and entertainment company.
However, the Indiana state regulator withdrew its earlier decision as a result of which Caesars would continue to own and operate Horseshoe Hammond, Indiana Grand, Harrah's Hoosier Park and three off-track betting sites.
"We believe that our continued operation of Horseshoe Hammond is in the best interests of our company. I am members, guests, the community of Hammond and the State of Indiana," he said. Tom Reeg, CEO of Caesars Entertainment.
"We believe that maintaining our strong customer and employee relationships at Horseshoe Hammond makes the property best placed for a strong and exciting future."
As part of its divestment strategy, Caesars recently closed Evansville's Tropicana sales to Gaming & Leisure Properties and Bally's Corporation for $ 480 million, with the latter also acquiring sports betting properties and gaming skins.
Bally acquired Tropicana Evansville for $140m, with a transaction in which GLPI acquires property-related real estate for $340m, which is leased to Bally's for $28 million per year, subject to escalation.
In addition, the group also expects to close the sale Caesars Southern Indiana sometimes? in the third quarter of 2021, along with Caesars, in addition to a trust fund Vici Properties
, announcing the final contract for the sale of the facility's operations Eastern Cherokee Bands for $250m, in December 2020.