Laughlin Buzz

Sep 27, 2019

Eldorado Resorts to sell Harrah's Laughlin

Laughlin, NV

Note:  This was previously announced, however, due to a SEC filing it has made the news again. 

Eldorado Resorts plans to sell Harrah's Laughlin, Harrah's Atlantic City, and Harrah's New Orleans for a total of $1.8 Billion dollars.

The buyer is VICI Properties and the agreement is dependent on Eldorado’s $17.8 billion acquisition of Caesars Entertainment, who currently own the three properties.  Under that acquisition, Caesars Entertainment will merge in 2020 with Eldorado and operate under the Casears name.

The breakdown by property of the $1.8 billion sale price is:

Harrah’s Laughlin       $434.75 million
Harrah’s New Orleans   $775.5 million
Harrah’s Atlantic City   $599.25 million,

VICI will purchase the land and property and lease the properties back to Caesars.

VICI also owns several other Casino/Hotels such as Harrah's Las Vegas, Caesars Palace in Las Vegas, Harrah's Tahoe, and others.  See the list of VICI holdings.

Eldorado’s announcement of the sale of the three properties comes just days after Caesars announced the pending sale of the Rio in Las Vegas to Imperial Companies (another real estate firm out of  New York) for $516.3 million. Caesars will also lease back the Rio for at least two years.

Eldorado also owns Tropicana Laughlin, in Laughlin, Nevada.  

View the details in the SEC report/filing:

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