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April 27, 2020 Comments Off on Bally’s Atlantic City Casino Trades for $25M Views: 1156 National News, New Jersey, Northeast

Bally’s Atlantic City Casino Trades for $25M

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Caesars Entertainment Corporation and VICI Properties Inc. have agreed to sell the Bally’s Atlantic City Hotel & Casino to Twin River Worldwide Holdings Inc. for approximately $25 million in cash. It was among the city’s first casino-resorts.

“We look forward to the reopening of Bally’s Atlantic City as soon as appropriate once the public health emergency related to COVID-19 has passed,” said Caesars CEO Tony Rodio.

“The sale of Bally’s Atlantic City demonstrates our ongoing commitment to work collaboratively with our tenants to optimize our individual businesses, even during these unprecedented times,” said VICI president John Payne.

Following the sale, Caesars will continue to operate Caesars Atlantic City, which will include the Wild Wild West casino area and The Book sports wagering facility, and Harrah’s Resort Atlantic City. VICI will continue owning the land and real estate associated with Caesars Atlantic City, including the Wild Wild West casino area.

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