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Caesars Entertainment Sells Four Casinos for Cash Infusion

Caesars Entertainment Corp. on Monday took the next step in its debt restructuring process by selling four casinos held by its operating business to its newly created unit of Caesars Growth Partners for $2.2 billion. The asset sale provides a short-term cash infusion for the troubled operating unit, Caesars Entertainment Operating Co., which will hive off four attractive properties, including Bally's, the Quad, and the Cromwell on the Las Vegas strip, as well as Harrah's New Orleans.