Caesars Sells Southern Indiana Casino to Cherokee Tribe in $250M Deal
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Caesars Entertainment Inc. has agreed to sell its Caesar's Southern Indiana casino to the Eastern Band of Cherokee Indians for $250 million. Caedars completed its $90 million renovation and expansion a year ago. It's Caears' second property in Indiana to be sold this year. The company also agreed in October to offload Tropicana Evansville to Bally's Corporation.
The Eastern Band of Cherokee Indians did not emerge as a surprise buyer of the Southern Indiana casino. Tribal leaders penned a letter of intent last month to express their interest in purchasing the recently expanded hotel-casino complex. EBCI will pay $250 million for Caesars Southern. The property will keep its name and Caeresars branding.
