CAI INVESTMENTS

Caesars Entertainment and VICI Properties Inc. Announce Sale of Harrah’s Reno to CAI Investments

Retrieved on: 
Wednesday, January 15, 2020

Caesars Entertainment Corporation (NASDAQ:CZR) (Caesars Entertainment or Caesars) and VICI Properties Inc. (NYSE:VICI) (VICI Properties or VICI) today announced they have signed an agreement to sell Harrahs Reno Hotel and Casino (Harrahs Reno) to an affiliate of CAI Investments (the Buyer) for $50 million.

Key Points: 
  • Caesars Entertainment Corporation (NASDAQ:CZR) (Caesars Entertainment or Caesars) and VICI Properties Inc. (NYSE:VICI) (VICI Properties or VICI) today announced they have signed an agreement to sell Harrahs Reno Hotel and Casino (Harrahs Reno) to an affiliate of CAI Investments (the Buyer) for $50 million.
  • The proceeds of the transaction shall be split 75% to VICI and 25% to Caesars, while the annual rent payments under the Non-CPLV Master Lease between Caesars and VICI will remain unchanged.
  • We recognize the long legacy of Harrahs in Reno, where the brand began 82 years ago and our role in the community.
  • The sale of Harrahs Reno demonstrates our ability to continuously work constructively with our tenants to improve our individual businesses.

Las Vegas Welcomes First Delta Hotels By Marriott During Groundbreaking Ceremony

Retrieved on: 
Wednesday, July 10, 2019

LAS VEGAS, July 10, 2019 /PRNewswire/ --On Wednesday, June 26, CAI Investments broke ground on the future site of Las Vegas' first Delta Hotels by Marriott, located at 3883 West Flamingo Road.

Key Points: 
  • LAS VEGAS, July 10, 2019 /PRNewswire/ --On Wednesday, June 26, CAI Investments broke ground on the future site of Las Vegas' first Delta Hotels by Marriott, located at 3883 West Flamingo Road.
  • To celebrate the project, Clark County Commissioner Michael Naft, CAI Investments' founder, Christopher Beavor, and executives from Marriott International and Crescent Hotels & Resorts, posed for a ceremonial shovel dig and June 26, 2019 was officially declared "CAI INVESTMENTS DELTA HOTEL DAY."
  • Neighboring the Harmon overpass, the unique, zero-lot-line property will provide guests unparalleled access to the Las Vegas Strip and primary convention centers.
  • Projected to open fourth quarter of 2021, Delta Hotels by Marriott is the final phase of CAI Investments' 8.6-acre multi-purpose development, which began in 2017.

Las Vegas Welcomes First Delta Hotels By Marriott During Groundbreaking Ceremony

Retrieved on: 
Wednesday, July 10, 2019

CAI Investments Begins Construction on a 24-Floor, 284-Room Hotel, Located West of the Strip

Key Points: 
  • CAI Investments Begins Construction on a 24-Floor, 284-Room Hotel, Located West of the Strip
    LAS VEGAS, July 10, 2019 /PRNewswire/ --On Wednesday, June 26, CAI Investments broke ground on the future site of Las Vegas' first Delta Hotels by Marriott, located at 3883 West Flamingo Road.
  • To celebrate the project, Clark County Commissioner Michael Naft, CAI Investments' founder, Christopher Beavor, and executives from Marriott International and Crescent Hotels & Resorts, posed for a ceremonial shovel dig and June 26, 2019 was officially declared "CAI INVESTMENTS DELTA HOTEL DAY."
  • Neighboring the Harmon overpass, the unique, zero-lot-line property will provide guests unparalleled access to the Las Vegas Strip and primary convention centers.
  • Projected to open fourth quarter of 2021, Delta Hotels by Marriott is the final phase of CAI Investments' 8.6-acre multi-purpose development, which began in 2017.