The tribal council of the Eastern Band of Cherokee Indians, owner of two Harrah’s Cherokee Casinos in North Carolina, recently voted to approve a resolution to purchase Caesars Southern Indiana Casino in Elizabeth for $280 million and to establish EBCI Holdings LLC to oversee the venture. Principal Chief Richard Sneed said the deal is expected to close in late June 2021.
According to the resolution, the tribe will contribute an amount toward the purchase not to exceed $120 million and will obtain financing for the project not to exceed $160 million.
The Indiana casino became available for sale as the result of the July merger between Eldorado Resorts and Caesars Entertainment, which also owns Harrah’s, the tribe’s casino management company.
