Caesars Entertainment has announced that they have entered into an agreement to sell the popular LINQ Promenade. The buyers appear to be a joint venture company that will be formed between TPG Real Estate and the Investment Management Platform of Acadia Realty Trust for $275 million.
The LINQ Promenade is a high traffic, 1,200-foot-long corridor right off the Las Vegas Strip that runs along the resort’s southern edge. It offers access to a new version of the O’Sheas Casino, as well as many popular attractions and restaurants, including our favorite In-N-Out Burger (sad we know) and great views of the High Roller.
“The sale… represents an accretive, non-core asset sale that will accelerate our debt reduction goals. I want to thank all the team members and the tenants of the LINQ Promenade for their partnership over the last 10 years and wish them continued success,” said Tom Reeg, CEO of Caesars Entertainment, Inc.
The purchase of LINQ Promenade is subject to customary approvals and other closing conditions and is expected to close during the fourth quarter 2024. It does not include the High Roller attraction, but there has nee no word on how it will impact the LINQ zip-line attraction.