Virginia Lottery reports that the state's three active casinos generated $78.8 million in April 2025, up 31% YoY, with Caesars Virginia leading the way.
Under Virginia law,...
Caesars to sell the LINQ Promenade for $275M
Through a newly signed agreement, an American hotel and casino entertainment company, Caesars Entertainment, will sell its LINQ Promenade to a joint venture formed between TPG Real Estate and Acadia.
The sale will include only LINQ Promenade, an outstanding area of shopping, dining, and entertainment. With this move, Caesars aims to reduce its $12.7 billion debt. Caesars will keep ownership of nearby attractions, including the LINQ and Flamingo casino hotels and the High Roller observation wheel.
Caesars CEO Tom Reeg commented:
“The sale of the LINQ Promenade represents an accretive, non-core asset sale that will accelerate our debt reduction goal. I want to thank all the team members and tenants of the LINQ Promenade for their partnership over the last 10 years and wish them continued success. By the end of this year, we will have reduced debt by 25 percent in absolute numbers since we closed the Caesars transaction (in 2020).”
The sale is still pending regulatory approval and is expected to be finalized in Q4 2024.
Q3 for Caesars
Caesars Entertainment saw a slight decline in its Q3 revenues and income from Las Vegas properties.
Caesars Palace, Harrah’s, Horseshoe, Paris, and the Cromwell Total net revenues dropped by 1.3% to $3.2 billion, and net income dropped by 10.4% to $696 million.
Caesars Foundation, which is part of Caesars Entertainment, is donating $200,000 to the International Center for Responsible Gaming (ICRG), aiming to promote research and...
