Casino sale: businessman buys establishments at the price of real estate

All three casinos were acquired through asset dives from Caesars Entertainment and Eldorado Resorts. The two companies were forced to take such a step to complete the $ 17.3 billion merger, after which Eldorado became the largest casino owner in the world.

Bally’s was purchased from Caesars. The businessman bought two casinos from Eldorado for $ 155 million, one in Shreveport, Louisiana, and the other Montbleu Casino on Lake Tahoe. Back in January this year, the Eldorado casino in Shreveport itself was valued at $ 230 million, and after a few months it was paired with another for $ 155. This is how quickly things can change.

According to Soo Kim, all three establishments cost him roughly the value of real estate. The price was so low that according to the businessman, even if the casinos were closed for two years, it would still be a good deal.

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