Caesars to Sell Belle of Baton Rouge to Casino Queen
Caesars is continuing to make moves.
Caesars Entertainment announced Tuesday an agreement to sell Belle of Baton Rouge to CQ Holding Company, Inc. (Casino Queen).
Pending regulatory approvals, the deal is expected to close in mid-2021, according to a news release.
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The 10-story, 288-room riverboat hotel-casino with close to 800 slots and 14 table games is at 103 France Street in Baton Rouge, Louisiana, according to the news release. It will be removed from its Gaming and Leisure Properties (GLPI) Master Lease and current rent payments to GLPI will remain unchanged. GLPI will retain ownership of the real estate of Belle of Baton Rouge.
“I want to thank all of our Baton Rouge Team Members for their hard work and dedication, especially during the COVID-19 pandemic,” Tom Reeg, CEO of Caesars Entertainment, said in the news release. “We wish them the best under Casino Queen's ownership.”
According to the state's most recent riverboat casino revenue report in October, The Belle’s AGR (Adjusted Gross Revenue) was $1,257,186, down from $2,050,619 posted in October 2019.
The Belle opened on Sept. 30, 1994.
Caesars Selling Properties
Caesars Entertainment and Vici Properties recently sold Bally's Atlantic City Hotel & Casino in New Jersey for $25 million to Twin River Holdings Worldwide, which has since rebranded as Bally’s.
Last week, the Indiana Gaming Commission granted Caesars, the largest casino-entertainment company in the U.S., an extension of one year to sell its Horseshoe Hammond Casino.
As a condition of Indiana approving the Caesars merger with Eldorado, Caesars agreed to sell three of its Indiana casino properties. The merger was approved over the summer.
Caesars is selling the Tropicana Casino in Evansville to Bally’s for $340 million.