Caesars and VICI sell Bally´s Atlantic City Hotel & Casino

From the total amunt and VICI is scheduled to get nearly $19 million from the sale, while Caesars may get approximately $6 million.

Bally’s Atlantic City has emerged as one of the biggest hotels on the boardwalk, with approximately 1169 rooms. There are two casinos at Bally’s with more than 220,000 square feet of gaming area along with more than 5000 slot machines. Soon after the deal was finalized, Tony Rodio, CEO at Caesars Entertainment, said the below:

"We look forward to the reopening of Bally’s Atlantic City as soon as appropriate once the public health emergency related to COVID-19 has passed".

He also went on to praise Twin River’s pledge to this property that is expected to have a bright future under its stewardship. John Payne, President, and COO of VICI Properties said the sale of Bally’s Atlantic City highlights our continuous pledge to work together with our tenants to boost our individual business even at a time when COVID-19 has wreaked its havoc all across the globe. This transaction will let us keep the present financial conditions of our master lease with Caesars and assist us in maintain a balance of our geographic diversification as we continue to accomplish the acquisition of Harrah’s Resort Atlantic City.