Caesars acquires Centaur Holdings for $1.7bn
Caesars have finalised the acquisition of property holding company, Centaur Holdings, for $1.7bn. The deal will see the Las Vegas casino giants pay $1.625bn upfront, $75m of which is deferred for consideration.
The transaction includes Hoosier Park Racing and Casino in Anderson, Indiana, and Indiana Grand Racing and Casino in Shelbyville, adding to the Caesars Entertainment portfolio.
Each casino has around 2000 slots and electronic gaming tables, in addition to live and simulcast horse racing and they serve approximately 6.5 million customers annually.
Caesars plans to install table games at both casinos, pending approval from authorities.
Centaur’s portfolio also includes 35 companies over 11 countries, covering asset management, private equity, venture capital, trade finance, mining and natural resources.
“The Centaur acquisition expands our footprint to the attractive central Indiana region with exciting new destinations that are profitable, well-capitalised and highly complementary to our existing portfolio,” said Mark Frissora, President and CEO of Caesars Entertainment. “This project is an important part of our growth strategy, which expands our brands, increases revenue and facilitates.”
Hoosier Park and Indiana Grand, which serve the Indianapolis and central Indiana areas, will add to the Caesars network in Indiana, which already includes Horseshoe Hammond and Horseshoe Southern Indiana.
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