Caesars Southern Indiana casino in Elizabeth, Indiana will operate under new ownership in 2021.
The Harrison County casino was acquired by a Native American tribe in a $250 million deal.
Nevada-based Caesars Entertainment Inc. agreed to sell the operation of the casino to the Eastern Band of Cherokee Indians (EBCI), based in North Carolina.
Caesars says EBCI has entered into a long-term agreement for the continued use of the Caesars brand at the casino.
According to Caesars, EBCI has entered into a long-term agreement for the continued use of the Caesars brand at the casino. The companies say EBCI will enter into a new lease with year one annual rent payments of $32.5 million.
"The purchase of Caesars Southern Indiana operating company marks the beginning of an exciting new future for the Eastern Band of Cherokee Indians," said Richard Sneed, principal chief, Eastern Band of Cherokee Indians. "We are pleased to build upon our long-standing partnership with Caesars as we look to advance our interests in commercial gaming in the coming years."
After it was acquired through a public merger with Eldorado Resorts Inc., Caesars was ordered by the Indiana Gaming Commission to sell three of its five casinos in the state.
Along with the Elizabeth casino, Caesars chose to sell its Evansville and Hammond properties.