Caesars Entertainment has an agreement in place to sell the shopping destination, the company said.
Caesars Entertainment has an agreement in place to sell the LINQ Promenade for $275 million, the company announced Tuesday.
Reno-based Caesars Entertainment said the buyer is a yet-to-be-formed joint venture between TPG Real Estate and an investment management platform of Acadia Realty Trust.
The sale, which is expected to close before the end of the year, is subject to regulatory approvals and other closing conditions, according to a company press release.
“The sale of the LINQ Promenade represents an accretive, non-core asset sale that will accelerate our debt reduction goals,” Tom Reeg, Caesars Entertainment’s chief operating officer, said in a prepared statement. “I want to thank all the team members and the tenants of the LINQ Promenade for their partnership over the last 10 years and wish them continued success.”
Caesars Entertainment operates the LINQ casino-hotel and the Flamingo casino-hotel, the two properties that abut the Promenade.
This story is developing. Check back for more details.
David Danzis can be contacted at [email protected] or (702) 383-0378. Follow AC2Vegas_Danzis on X.
