Caesars Entertainment To Buy Centaur For $1.7 Bln

(RTTNews) - Caesars Entertainment Corp. (CZR) said that it agreed to acquire Centaur Holdings, LLC for $1.7 billion in cash, including $1.625 billion at closing and $75 million in deferred consideration.

As a result of the transaction, Caesars will add Hoosier Park Racing and Casino in Anderson, Indiana, and the Indiana Grand Racing and Casino in Shelbyville, Indiana to its Total Rewards network.

The transaction is subject to receipt of regulatory approvals and other customary closing conditions and is expected to close in the first half of 2018.

The Company anticipates introducing table games to these properties, pending regulatory approval. The transaction is anticipated to be free cash flow positive.