Moody's Places Caesars (CZR) on Review for Downgrade
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Caesars (CZR) Announces $2.2B Sale of Certain Las Vegas Assets
March 3, 2014 7:01 AM ESTCaesars Entertainment Corporation (Nasdaq: CZR) announced it has entered into a definitive agreement to sell Bally's Las Vegas, The Cromwell (formerly Bill's Gamblin' Hall & Saloon), The Quad and Harrah's New Orleans to Caesars Growth Partners, LLC for a purchase price of $2.2 billion, including assumed debt of $185 million and committed project capital expenditures of $223 million, resulting in anticipated cash proceeds of $1.8 billion. The transaction is expected to close in the second quarter of 2014, subject to certain closing conditions, including the receipt of required regulatory approvals. These actions are part of ongoing efforts to address Caesars... More
