American betting group Caesars Entertainment Inc. announced this week that they've come to terms to sell off their Belle of Baton Rouge riverboat casino to CQ Holding Company, Inc.
Terms of the deal aren't known, but the agreement will see Caesars removed from the casino's land lease, with CQ taking up the property under new terms with the landowners Gaming and Leisure Properties. It's expected that the deal will close near the middle of next year, and it is subject to various regulatory approvals. Workers at the property will transition to the new company, meaning that no jobs are likely to be lost in the transition.
Commenting on the sale Caesars CEO Tom Reeg said, "I want to thank all of our Baton Rouge Team Members for their hard work and dedication, especially during the COVID-19 pandemic. We wish them the best under Casino Queen's ownership."
We're following the sale and will update readers if any details on the selling price are announced.