Caesars raising cash by selling Macau property
By Ed Komenda, Las Vegas Sun
Caesars Entertainment Corp. is selling its Macau golf course to an Asian developer for $438 million.
The gaming giant, which owns Harrah’s Lake Tahoe and Harveys at Stateline, announced the sale Friday in a filing with the Securities & Exchange Commission.
The deal landed this week with Pearl Dynasty Investments Ltd., which put up a $65.7 million deposit.
If Caesars successfully closes the deal by the end of the year as expected, it plans to use the money to help pay down its $20 billion debt.
