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Columbia Sussex selling Casino Aztar to Eldorado Resorts


Business Courier of Cincinnati,  Tuesday, April 1, 2008 at 11:42:51 AM

Columbia Sussex Corp. has found a buyer for its Casino Aztar property--Eldorado Resorts, LLC in Reno, Nevada.

The Northern Kentucky casino and hotel owner has signed an agreement to sell Casino Aztar, in Evansville Ind., to Eldorado for up to $245 million, according to a news release. The sale price consists of $190 million in cash, a $30 million note and $25 million in potential incentives linked to the operating performance of the property.

The sale is subject to approval by the Indiana Gaming Commission, which must license Eldorado before the deal can close.


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