Caesars Entertainment Agrees to Sell Its Interest in Two Nova Scotia Casinos
May 17, 2005 06:30:00 AM ET

Caesars Entertainment Inc. CZR entered into a definitive agreement yesterday to sell its interest in the company that owns and operates two Nova Scotia gaming properties - Casino Nova Scotia Halifax and Casino Nova Scotia Sydney - for approximately US $70 million.

Under the terms of the agreement, Great Canadian Gaming Corporation of Richmond, British Columbia, will acquire from a Caesars subsidiary its 95 percent ownership interest in Metropolitan Entertainment Group, a Nova Scotia partnership that owns and operates the two Nova Scotia casino properties under an agreement with the government-owned Nova Scotia Gaming Corporation.