Caesars Entertainment Inc. Finally Lets Go of St. Louis Casino
Apart from the recently concluded Halloween celebration, Caesars Entertainment Inc. had to conclude a different matter regarding its owner rights to St. Louis Casino. It is said that the company, after a few months of battling to maintain its ownership of the successful casino finally surrendered its ownership to Penn National Gaming Inc.
Insiders claim that a whopping $610 million worth deal has been officially closed by both parties within the first week of November.
At the moment, the Harrah’s St. Louis Casino and Hotel is under the tutelage of Penn National Gaming Inc. which is allegedly planning to rebrand the establishment as the Hollywood Casino St. Louis.
On the other hand, Caesars Entertainment maintained that it will use the money it has gotten out of the deal to renovate some of its Strip resorts as well as to pay some debts which it has incurred over the years