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The Caesars Rewards Center at Caesars Southern Indiana is open Sunday through Thursday from 8am until midnight and Friday and Saturday from 8am until 2am. Caesars became Indiana’s seventh online sportsbook when it launched in May 2020. Licensed by the Indiana Gaming Commission and the company’s third online sports betting site, Caesars Indiana is poised to become one of the state’s biggest players. In this Caesars Sportsbook review, we’ve analyzed everything it has to offer.
ELIZABETH, Ind. (AP) — Caesars Entertainment has reached an agreement to sell a southern Indiana casino to the North Carolina-based Eastern Band of Cherokee Indians for $250 million, the company said.
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Caesars Entertainment officials announced the sale agreement for Caesars Southern Indiana on Thursday ahead of the company’s Dec. 31 deadline to divest from the casino operation, located in the Harrison County town of Elizabeth, across the Ohio River from Louisville, Kentucky.
The agreement is an expansion of an existing partnership between the company and the Eastern Band of Cherokee Indians, or the EBCI, The News and Tribun e reported.
At the closing of the deal, EBCI will enter into a new lease with VICI Properties Inc. with annual payments of $32.5 million.
The 20-year-old casino retired its three-floor riverboat in late 2019 and moved into a new, $85 million land-based building that offers 100,000-square-feet (9,290-square-meters) of gambling space, including slot machines, table games, and poker, and room for dining and entertainment.
After it was acquired through a public merger with Eldorado Resorts Inc., Caesars was ordered by the Indiana Gaming Commission to sell three of its five casinos in the state.
Along with the Elizabeth casino, Caesars chose to sell its Evansville and Hammond properties.
© Louisville Business First Caesars Southern IndianaCaesars Southern Indiana, located in Elizabeth, Indiana, will be under new management in 2021.
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Caesars Entertainment Inc., the casino’s parent company, announced in a news release Thursday it would sell the facility to the Eastern Band of Cherokee Indians for $250 million.
Sign up for our NewslettersThe release continues: In addition, at the closing of the transaction, the Eastern Band of Cherokee Indians will enter into a new lease with year one annual rent payments of $32.5 million with VICI Properties Inc., who maintains ownership of the real estate of the property. As a result of this transaction, Caesars annual payments to VICI Properties under the Regional Master Lease will decline by $32.5 million upon closing of the transaction.
Tom Reeg, CEO of Caesars Entertainment Inc., said in the release that expanding the company’s relationship with the Eastern Band of Cherokee Indians was an exciting development since the two entities first came together as partners 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,” Reeg said in a news release.
Richard Sneed, principal chief of the Eastern Band of Cherokee Indians, which is based in Cherokee, North Carolina, said the purchase of Caesars Southern Indiana marks the beginning of an exciting new future.
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'We are pleased to build upon our long-standing partnership with Caesars as we look to advance our interests in commercial gaming in the coming years,” Sneed said in the release.
Click here to read more about the sale from Louisville Business First.
READ THE FULL STORY:Native American tribe purchases Caesars Southern Indiana for $250 million
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