Caesars quickens debt reduction with LINQ Hunch Sale

Caesars Entertainmenta main casino and entertainment firm with a tough presence in the USA, announced that it has entered correct into a definitive agreement to sell notion to be one of its Las Vegas properties.

Principal aspects of the sale emerged on Tuesday when the firm confirmed its intent to sell The LINQ Hunch, its retail, eating and entertainment destination in the guts of the Las Vegas Strip. Caesars has entered into an agreement to sell the strategic resources to a joint enterprise between the Investment Management Platform of Acadia Realty Belief and TPG Exact Property.

The newly announced acquisition is valued at $275 million. It’s considerable to illustrate that completion of the acquisition is enviornment to appropriate regulatory approvals and closing stipulations. Caesars mentioned it expects the strategic sale to terminate in the fourth quarter of this yr.

The firm confirmed that it used to be represented in the transaction by Latham & Watkins LLP and Brownstein Hyatt Farber and Schreck, LLP. On the rather deal of hand, Acadia Realty Belief’s right property and investment administration platform TPG retained the services of Kirkland & Ellis LLP as an advisor on this explicit transaction.