Caesars Entertainment enters into agreement to sell LINQ Promenade
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- Caesars Entertainment (NASDAQ:CZR) on Tuesday announced an agreement to sell the LINQ Promenade to a joint venture to be formed between TPG Real Estate and the Investment Management Platform of Acadia Realty Trust for $275 million.
- The sale is expected to close during the fourth quarter of 2024.
- “The sale of the LINQ Promenade represents an accretive, non-core asset sale that will accelerate our debt reduction goals,” said Tom Reeg, CEO of Caesars Entertainment.
- Shares of the casino-entertainment company were down 3.2% after the trading hours.
- Source: Press Release