Caesars sells Harrah’s Reno to CAI Investments for $42m

Caesars Entertainment and VICI Properties have completed a sale of Harrah’s Reno Hotel and Casino to an affiliate of CAI Investments for $42m.

VICI earned 75% of the sale’s proceeds while Caesars took the other 25%. 

Caesars originally announced the sale in January 2020.

Harrah’s Reno, opened in 1938, is one of Nevada’s oldest hotels. 

The completed sale comes at an opportune time for Caesars, which agreed to buy UK bookmaker William Hill for $3.7bn.

Ezra Amacher

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