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Caesars Entertainment to sell 4 properties to affiliate

Caesars Entertainment plans to sell four casino-hotels to an affiliate as part of its restructuring. Harrah’s New Orleans Hotel and Casino, the Cromwell Las Vegas, the Quad Resort & Casino and Bally’s Las Vegas Hotel & Casino will be sold to Caesars Growth Partners in a $2.2 billion deal. The new owner will invest $223 million in completing a renovation on the Quad as part of the deal. Read the Bloomberg Businessweek story here

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