Caesars completes sale of Harrah's New Orleans

22 May 2014

By Howard Stutz

LAS VEGAS -- Caesars Entertainment Corporation completed sale Tuesday of Harrah’s New Orleans Casino to Caesars Growth Partners after receiving approval from the Louisiana Gaming Control Board.

The transaction was approved Monday.

In conjunction with the closing, Caesars Growth Partners refinanced the loan secured in connection with the purchase of three Las Vegas properties — Bally’s - Las Vegas, The Cromwell and The Quad Resort and Casino — with $2 billion in financing. The financing includes refinancing $476.9 million in debt covering Planet Hollywood.

Harrah’s New Orleans remains part of the Total Rewards network.

There will be no change in day-to-day operations as a result of the transaction.

Caesars completes sale of Harrah's New Orleans is republished from Online.CasinoCity.com.