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Caesars Entertainment To Buy Centaur for $1.7 Billion

Caesars Entertainment To Buy Centaur for $1.7 Billion

Caesars Entertainment Corp has announced that it is buying privately owned casino and horse racing company Centaur Holdings LLC for $1.7 billion cash.

The deal is designed to help Caesars expand in Indiana and it comes a month after Caesars’ main operating unit came out from a three-year bankruptcy. Centaur has more than 6.5 million visitors each year across its properties and serves more than 1.1 million members as part of its loyalty program. According to Caesars the offer included $1.63 billion at closing and $75 million in deferred consideration.

Once the deal is complete Caesars will add the Hoosier Park Racing & Casino and Indiana Grand Racing & Casino properties to its portfolio. The properties are home to more than 2,000 slot machines and table games as well as a number of restaurants and horseracing tracks.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.