C
aesars Entertainment announced on Tuesday a definitive agreement to sell Belle of Baton Rouge to CQ Holding Company, Inc. (Casino Queen).
Pursuant to the terms of the amended lease agreement with Gaming and Leisure Properties, the 10-story, 288-room riverboat hotel-casino in Baton Rouge, Louisiana will be removed from the GLPI Master Lease, and the rent payments to GLPI will remain unchanged. GLPI will retain ownership of the real estate of Belle of Baton Rouge.
“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.”
The transaction is expected to close in mid-2021 and is subject to regulatory approvals and other customary closing conditions.
The Belle, which opened in 1994 and once was known as the Catfish Queen, reportedly has nearly 800 slot machines and 14 table games.
