Columbia Entertainment Buys Aztar Casinos for $2.7 billion
Columbia Entertainment, the gambling affiliate of Columbia Sussex, is paying $2. 75 billion to buy Aztar Corp., a casino operator. Aztar has casinos in Atlantic City, N. J., and Las Vegas. It also owns a casino-hotel in Laughlin, Nev. and a riverboat casino in Evansville, Ind. The combined company will own about 33,000 rooms and 12 casinos in Nevada, Louisiana, Mississippi, New Jersey, Illinois and Indiana. The $2. 75 billion deal includes assumption of a $676 million in debt.
Credit Suisse has provided a firm commitment for $3.15 billion in debt financing.
June 1, 2006
Posted By Guy Akers
Staff Editor, CasinoGamblingWeb.com
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