The Indiana Gaming Commission recently approved the sale of Caesars Southern Indiana’s operations to EBCI Holdings for $250 million. Closing is expected next month.
EBCI Holdings Chief Executive Officer R. Scott Barber said, “We are delighted to move forward with Caesars and expand our already successful portfolio. Not only is it a beautiful, recently renovated property, but Caesars is also a storied brand in the southern Indiana community. We’re honored to carry on that legacy as we continue to elevate Caesars’ world-class guest experience.”
EBCI Holdings will continue to use Caesars’ branding for the casino and participate in Caesars Rewards loyalty program. Also, EBCI Holdings announced that the property’s 900 employees will have the opportunity to keep their present jobs.
EBCI Holdings also will enter into a triple-net lease with a subsidiary of VICI Properties Inc. ECBI will rent Caesars Southern Indiana real property for $32.5 million under a 15-year lease with four 5-year tenant renewal options.
The Eastern Band of Cherokee Indians established EBCI Holdings earlier this year. The tribe, which owns two casinos in western North Carolina, has a long-term relationship with Caesars Entertainment, which manages both North Carolina casinos. Caesars Southern Indiana is EBCI Holdings’ first acquisition outside North Carolina.
