Tagged: Harrah's Casino

Caesars Entertainment Corp. says it will sell its Harrah's hotel-casino outside St. Louis to rival Penn National Gaming for $610 million.

The Las Vegas Review-Journal reports Caesars and Penn National gave different reasons for the all-cash transaction that could close later this year.

Caesars Entertainment Chairman Gary Loveman says the company is looking at other growth markets. Caesars is opening the Horseshoe Casino Cleveland next week and Horseshoe Casino Cincinnati next year.

Updated at 5:20pm with comments from hearing, more details.

The board that hears appeals from St. Louis County taxpayers on the value of their home or business has reversed  its decision to reduce the value of River City Casino in Lemay.

St. Louis County's assessor is assailing a board's decision to cut the assessed value of the county's two casinos in a move that will cost school, fire and other districts millions of dollars in tax revenue.

The St. Louis Post-Dispatch reports that the county's Board of Equalization assessed the value of Harrah's casino in Maryland Heights at $152 million. That's down $288 million from the county's assessment of it May.