Caesars Sell Off Casino Property In Gear Up For William Hill
US Casino operator Caesars Entertainment has announced it has struck a deal to sell its Belle of Baton Rouge riverboat casino in Louisiana to Illinois’ Casino Queen who are owned by CQ Holding Company. The amount of the sale has not been released as part of the announcement.
Caesars chief executive Tom Reeg said on the announcement: “I want to thank all of our Baton Rouge team members for their hard work and dedication, especially during the novel coronavirus (Covid-19) pandemic.”
The US casino giant is in the middle of a takeover of UK bookmaker William Hill for £2.9 billion and has already passed shareholder approval.
The sale of such properties as the riverboat casino means Caesars are positioning itself for a major move into sports betting and online sports betting in the US with William Hill. The US company have already stated it wants to sell off its assets in the UK with its casinos there and also all of William Hills businesses in the UK and Europe to focus solely on the US market.
