Caesars Agrees to Sell Its Tahoe Hotel-Casino
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Caesars Entertainment Inc. has agreed to sell its Caesars Tahoe hotel-casino for about $45 million, company executives said.
An affiliate of Kentucky-based hotel operator Columbia Sussex Corp. will buy the property.
Columbia and its affiliates operate 64 hotels, including Horizon Casino Resort in South Lake Tahoe, Calif.
Caesars is being acquired by Harrah’s Entertainment Inc. in a $5.2-billion deal. The two Las Vegas-based companies reached an agreement in July and are awaiting state and federal approval.
Caesars shares fell 33 cents to $18.16, and Harrah’s shares fell $1.39 to $58.98, both on the New York Stock Exchange.
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