Caesars Entertainment completes $275million sale of Linq Promenade

The $275 million sale of Caesars Entertainment's Linq Promenade in Las Vegas has been completed. Another phase in Caesars' plan to sell off non-core assets and improve its financial position was the acquisition of the property by a joint venture between TPG Real Estate and Acadia Realty Trust. The $275 million voluntary prepayment on Caesars' Term Loan B, which is scheduled to maturity in 2030, was made with the proceeds of the sale. The company's continuous attempts to lower debt in the wake of financial difficulties brought to light in its most recent earnings reports are reflected in this action.