Developing Trust through Transparency and Vision

Caesars sells original Harrah’s in Reno

Reno-based Caesars Entertainment Inc. has parted ways with the original Harrah’s casino in downtown Reno.

On Wednesday, Caesars closed the sale of the property to Las Vegas developer Chris Beavor, founder of CAI investments, for $41.5 million.

The deal was first announced in January. A quarter of the proceeds will go to Caesars, while 75 percent will go to the company’s affiliated real estate investment trust, Vici Properties Inc.

Beavor told the Review-Journal this year that he plans to turn the property into a mixed-used project called Reno City Center that will combat Reno’s affordable housing shortage.

Caesars shares closed up 2.9 percent Wednesday to $56.06 on the Nasdaq. Vici shares closed down 0.1 percent to $23.37 on the New York Stock Exchange.

SOURCE: https://www.reviewjournal.com/business/casinos-gaming/caesars-sells-original-harrahs-in-reno-2133641/

Leave a Reply

You must be logged in to post a comment.

Copyright © 2025 CAI Investment Las Vegas. All Rights Reserved.

Designed and Developed By: Royal Ink

THE ADVISOR'S GUIDE TO AN EVOLVING DST MARKET

As an investment advisor, your role in helping clients optimize the investment outcomes of their portfolios has never been more important. And a key part of that responsibility is creating diversified portfolios with a sensitivity to tax efficiency, especially as clients enter retirement.

Download Booklet

WHY TENANT SELECTION MATTERS FOR DSTS

The cornerstone of any successful Delaware Statutory Trust (DST) investment lies in the quality of its tenants. For investment advisors and broker-dealers helping clients evaluate DST opportunities, understanding the historical stability and operational excellence of the tenants involved is crucial.

Download Booklet

DST EDUCATIONAL HANDBOOK

Understanding Delaware Statutory Trusts (DSTs) is essential for any advisor guiding clients through tax-efficient real estate strategies. As more investors seek passive income and look to defer capital gains through 1031 exchanges, DSTs have become a valuable tool for portfolio diversification.

Download Booklet

HOW A DECREASE IN INFLATION CAN AFFECT REAL ESTATE PRICES

Inflation plays a critical role in shaping the dynamics of the real estate market. While it’s often associated with rising costs across the economy, a decrease in inflation can have complex and sometimes unexpected effects on property values.

Download White Paper

WHY DSTS ARE GROWING IN POPULATIRY IN 2025

In 2025, Delaware Statutory Trust (DST) investments are experiencing robust growth, driven by several interconnected economic, demographic, and other factors. These include surging equity inflows, evolving 1031 exchange strategies, and the rise of passive income-focused investors.

Download White Paper

Acquistions

    Property Information






    Personal Information





    Sales





      Investor Services





        General Inquires