“We are pleased the buyer is committed to the community and supports the redevelopment of this wonderful asset. “We recognize the long legacy of Harrah’s in Reno, where the brand began 82 years ago and our role in the community,” Tony Rodio, CEO of Caesars Entertainment, said in a press release. Proceeds of the transaction will be split 75% to VICI and 25% to Caesars, while annual rent payments under the lease between Caesars and VICI will remain unchanged (Caesars leases Harrah’s from VICI Properties). announced last week they have signed an agreement to sell Harrah’s Reno Hotel and Casino to an affiliate of CAI Investments for $50 million. RENO - Caesars Entertainment and VICI Properties Inc.
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