Caesars Entertainment agreed to promote its Southern Indiana on line casino to the Eastern Band of Cherokee Indians for $250 million, according to an Associated Press report.
The North Carolina-based tribe, which already owns and operates a Caesars on line casino in its residence state, is now the proprietor of Caesars Southern Indiana. The on line casino is situated in Elizabeth, situated on the southern border of the state and simply exterior Louisville, KY. The deal deepens an present partnership between the tribe and the corporate.
“Expanding our relationship with the Eastern Band of Cherokee Indians is an exciting event for Caesars Entertainment,” mentioned Caesars CEO Tom Reeg in a press release. “Since our partnership began back in 1996, we have admired their growth and the success of their properties. We look forward to increasing our relationship by extending the Caesars brand and Caesars Rewards loyalty program to them at Caesars Southern Indiana.”
The deal, which is anticipated to shut in late 2021, permits the Tribe to make use of Caesars’ model and the prevailing rewards program on the on line casino. An almost similar association to what’s already being performed at Harrah’s Cherokee in North Carolina. From a visitor’s perspective, nearly nothing will change.
The sale was anticipated after the Indiana Gaming Commission compelled Caesars and Eldorado Resorts to promote three of its 5 Indiana properties final summer time. The two firms finalized their merger earlier this yr and the brand new Caesars has till the top of the yr to adjust to Indiana’s orders.
Along with Caesars Southern Indiana, the corporate mentioned it might additionally promote its Evansville and Hammond properties.
Both Horseshoe Hammond and Caesars Southern Indiana had been common stops on the World Series of Poker Circuit, a Caesars-owned model. The Cherokee Tribe already runs a well-liked cease on the tour at its North Carolina property, so it appears doubtless that the WSOP Circuit will stay in Southern Indiana, at any time when it resumes.
In late 2019, Caesars Southern Indiana moved from its three-floor riverboat to an $85 million land-based constructing.