Horseshoe Hammond Remains Part Of Caesars Entertainment
The Indiana Gaming Commission has amended its order, allowing Caesars Entertainment (NASDAQ: CZR) to retain ownership of Horseshoe Hammond and other properties in Indiana. This decision follows Caesars’ recent sale of Tropicana Evansville and the anticipated sale of Caesars Southern Indiana by Q3 2021. CEO Tom Reeg expressed confidence that maintaining Horseshoe Hammond is beneficial for employees, customers, and the local community, indicating a strong future for the property.
- Retention of Horseshoe Hammond enhances operational stability.
- CEO's confidence in long-term prospects supports investor sentiment.
- Completion of Tropicana Evansville sale adds liquidity.
- Considerable asset divestitures may indicate financial challenges.
HAMMOND, Ind., June 24, 2021 /PRNewswire/ -- Today, the Indiana Gaming Commission (IGC) amended its order requiring Caesars Entertainment, Inc (NASDAQ: CZR) ("Caesars" or "the Company") to sell a third casino asset in the state. As a result, Caesars will continue to own and operate Horseshoe Hammond, Indiana Grand, Harrah's Hoosier Park, and its three off-track betting locations.
"We are confident that our continued operating of Horseshoe Hammond is in the best interest of our Team Members, guests, the Hammond community, and the State of Indiana," said Tom Reeg, CEO of Caesars Entertainment. "We believe that maintaining our strong customer and employee relationships at Horseshoe Hammond makes the property best positioned for a strong and exciting future."
Caesars Entertainment recently closed on the sale of Tropicana Evansville and expects to close on the sale of Caesars Southern Indiana sometime in the third quarter of 2021.
About Caesars Entertainment, Inc.
Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest casino-entertainment company in the US and one of the world's most diversified casino-entertainment providers. Since its beginning in Reno, NV, in 1937, Caesars Entertainment, Inc. has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment, Inc.'s resorts operate primarily under the Caesars®, Harrah's®, Horseshoe®, and Eldorado® brand names. Caesars Entertainment, Inc. offers diversified gaming, entertainment and hospitality amenities, one-of-a-kind destinations, and a full suite of mobile and online gaming and sports betting experiences. All tied to its industry-leading Caesars Rewards loyalty program, the company focuses on building value with its guests through a unique combination of impeccable service, operational excellence and technology leadership. Caesars is committed to its employees, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. For more information, please visit. www.caesars.com/corporate.
About Horseshoe Hammond
Horseshoe Hammond, a Caesars Entertainment Inc. property, is the premier entertainment and gambling destination in Chicago and Northwest Indiana. Located 20 minutes from downtown Chicago, Horseshoe Hammond features a state-of-the-art sports book, upscale dining, the latest slot machines, table games and an intimate-concert venue experience. Based in Hammond, Ind., Horseshoe Hammond is annually recognized as one of the best places to work by the Indiana Chamber of Commerce. For additional information, visit horseshoehammond.com. Must be 21 years old to gamble or participate. Know When to Stop Before You Start®. Gambling Problem? Call 1-800-9-WITH-IT.
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SOURCE Caesars Entertainment, Inc.
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