December 1, 2020 Casino, Poker, Legal

Caesars reaches agreement to sell Belle of Baton Rouge to Casino Queen Holdings

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Caesars Entertainment has announced an agreement to sell Belle of Baton Rouge to CQ Holding Company (Casino Queen).

The deal is expected to close in mid-2021 pending regulatory approval.

"I want to thank all of our Baton Rouge Team Members for their hard work and dedication, especially during the COVID-19 pandemic," said Tom Reeg, CEO of Caesars Entertainment, Inc. "We wish them the best under Casino Queen's ownership."

Belle of Baton Rouge is a 288-room riverboat casino with 28,500 square feet of gaming space. It holds 777 slot machines and 14 table games.

The casino earned $1.2m in October adjust gross revenue, down 39% year-on-year. Belle of Baton Rouge’s October AGR was the lowest of any of the 13 operating Louisiana riverboats.

Originally opened in 1994, the property has changed hands many times including stints under Penn National Gaming and Tropicana Entertainment.

Gaming and Leisure Properties acquired its real estate in 2018 and will retain ownership.

Casino Queen currently operates riverboat casinos in East St. Louis, Illinois and Marquette, Iowa. The East St. Louis casino includes a DraftKings sportsbook.

With the loss of Belle of Baton Rouge, Caesars now operates five casinos in Louisiana including Harrah’s New Orleans.

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