Ceasars Entertainment to sell Harrah’s Louisiana Downs

3766

From Staff Reports:

Bossier City, LA – In an announcement made on Thursday, September 3, 2020, Caesars Entertainment announced that it is selling Harrah’s Louisiana Downs in Bossier City to Rubico Acquisition Corporation.

The total deal is valued at $22 million. Per the agreement, $16.5 million is going to Caesars Entertainment and $5.5 million is going to VICI Properties, Inc.

The deal is expected to become final at the end of 2020 or early in 2021 pending regulatory approval.

Louisiana Downs opened in 1974 as a brand new horse racing facility in Bossier City. The facility was developed by Edward J. DeBartolo Sr.

Harrah’s Entertainment (now Caesars Entertainment) purchased the track in 2002. Harrah’s added slot machines to the horse racing facility in April of 2004.

In October 2017, ownership of the property was transferred to VICI Properties as part of a corporate spin-off, and then VICI Properties leased the property back to Caesars.