Caesars Entertainment Completes $1.7 Billion Acquisition Of Centaur Holdings

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 Caesars Entertainment Corporation today announced the completion of the acquisition of Centaur Holdings for $1.7 billion in cash, $1.625 billion of which was due to close and $75 million in deferred consideration.

The deal adds Hoosier Park Racing & Casino, located in Anderson, Indiana, and Indiana Grand Racing & Casino, located in Shelbyville, Indiana, to the Caesars Entertainment portfolio.

With the transaction complete, Centaur guests will now be able to participate in Caesars Entertainment's Total Rewards loyalty program, transferring points between Centaur's loyalty program and Total Rewards. With more than 55 million members, Total Rewards is one of the world's largest loyalty programs and serves as a tourist driver for Caesars-run cities and destinations.

"The acquisition of Centaur expands our footprint into attractive central Indiana with exciting new destinations that are profitable, capitalist and can complement our existing portfolio," said Mark Prisora, President and CEO of Caesars Entertainment. "This project is an important part of our growth strategy to expand our brand, increase revenue, and facilitate widespread deployment of our Total Rewards program."

Caesars Entertainment is investing $50 million in various accommodation improvements and IT upgrades to further enhance the guest experience. The introduction of total rewards and a centralized cost structure is expected to reduce the purchase price multiple by 8.3 times within two years. The company anticipates the introduction of table games into the accommodation only with necessary approval. Assuming table games and certain synergies, the effective purchase price multiple will be less than 7 times. 파워볼실시간

Hoosier Park and Indiana Grand both offer live and simulcast horse racing, a variety of restaurants, and entertainment, with approximately 2,000 up-to-date slot and electronic table games. The accommodation welcomes more than 6.5 million guests each year and serves more than 1.1 million members as part of its loyalty program.

Hoosier Park and Indiana Grand, which serve Indianapolis and central Indiana, will be added to Indiana's Caesars network, which already includes the horseshoe Hammond and the horseshoe Southern Indiana. The horseshoe Hammond serves the northern Indiana and Chicago Land areas, while the horseshoe Southern Indiana serves the southern Indiana and Louisville areas.