Caesars Indiana
Caesars Indiana welcome bonus 2021
Caesars Entertainment is betting big that its new land-based casino in Southern Indiana will curb any stagnation and make the venue a go-to spot in the area for hospitality. The company opened the. Caesars Entertainment Inc. Is selling a southern Indiana property to a tribal operation in a deal that should help the company in its bid to expand in Virginia. The company announced Thursday that. Dec 12, 2019 Caesars Entertainment is betting big that its new land-based casino in Southern Indiana will curb any stagnation and make the venue a go-to spot in the area for hospitality. The company opened the.
Caesars Indiana
When Caesars launched in Indiana, it gave new customers the chance to win 1 million in online rewards credits. By using the Caesars bonus code, newbies went into a draw to win a share of the mammoth prize pool.
If you’ve read any of the other Indiana sports betting reviews we’ve written, you’d be forgiven for thinking that’s a typo, but it’s not. Caesars really did give away a million reward credits to newbies. Why? Simple: Caesars Entertainment is one of the biggest brands in betting, and it wanted to make a splash in the Hoosier State.
Whenever a sportsbook offers a million of anything, it’s impressive, and Caesars Indiana certainly impressed with this offer. Unfortunately, if you’re reading this after July 2020, the deal is done. OK, so why did we tell you about it? Simple: because it’s a statement of intent.
Caesars came out of the gate swinging. That not only sent a message to local competitors like DraftKings and PointsBet, it showed customers that Caesars means business. That’s important because it set a precedent. Caesars Indiana is now known as the home of big bonuses, and that’s a reputation it must uphold.
Therefore, even if you missed out on the million-credit giveaway, you can be confident there’s more to come. Of course, we can’t say what or when it’ll appear. However, based on what we’ve seen, we can say with virtual certainty it’ll be big. That, for us, is a great reason to try this online sportsbook.
EBCI will rent property from VICI
Caesars Entertainment has agreed to sell the operations of Caesars Southern Indiana to the Eastern Band of Cherokee Indians (EBCI) for $250m. As part of the deal, the EBCI will be able to keep the Caesars brand with the casino and continue to offer the Caesars Rewards loyalty program at the Elizabeth, Indiana venue.
Once the transaction closes – likely in the third quarter of 2021 – the EBCI will rent the property from VICI Properties for $32.5m per year. VICI, a real estate investment trust spun-off from Caesars Entertainment in 2017, owns the actual real estate of Caesars Southern Indiana; the EBCI is buying only the casino’s operations.
beginning of an exciting new future for the Eastern Band of Cherokee Indians”
“The purchase of Caesars Southern Indiana operating company marks the beginning of an exciting new future for the Eastern Band of Cherokee Indians,” said Richard Sneed, Principal Chief Eastern Band of Cherokee Indians, in Thursday’s announcement. “We are pleased to build upon our long-standing partnership with Caesars as we look to advance our interests in commercial gaming in the coming years.”
All thanks to Eldorado merger
Caesars Indiana Sale
The sale of Caesars Southern Indiana was necessitated by Caesars’ $17.3bn merger with Eldorado Resorts in August 2020. The two companies needed the approval of gaming regulators in Nevada, Indiana, and New Jersey. The Indiana Gaming Commission gave the deal the green light on the condition that the two companies sell three of their Indiana casinos by the end of the year. Prior to any sales, Caesars and Eldorado owned five of the state’s 13 casinos, amounting to 50-60% of the state’s casino tax revenue.
Caesars Indiana Sportsbook
The merged Caesars Entertainment sold the Tropicana Casino in Evansville to Bally’s Corporation for $480m. The sale of the Elizabeth operations to the EBCI had been in the works for a few months.
The last Indiana casino on Caesars’ chopping block is Horseshoe Hammond, on Lake Michigan near Chicago. Because of delays attributed to uncertainty about gambling expansion in Illinois and the state of the industry during the COVID-19 pandemic, Caesars petitioned the Indiana Gaming Commission for an extension to the sale deadline. The commission granted the extension, now requiring the sale of the casino by December 31, 2021.
Cherokees expanding casino footprint
This will be the third casino under the ownership of the Eastern Band of Cherokee Indians. The tribe owns two casinos in North Carolina: Harrah’s Cherokee and Harrah’s Cherokee Valley River.
Caesars Indiana Grand
The Eastern Band of Cherokee Indians uses the proceeds from its casinos to better its community. Located in the far western part of North Carolina, the EBCI’s land trust is about 83 square miles and of its more than 16,000 enrolled members, about half live on tribal land. The EBCI puts at least $5m in casino profits into the Cherokee Preservation Fund each year to pay for non-gambling economic development, cultural preservation, and environmental protection. Additional profits go to improving tribal education, housing, healthcare, and more.