CQ Holding finalises Belle of Baton Rouge purchase from Caesars

CQ Holding finalises Belle of Baton Rouge purchase from Caesars

Caesars Entertainment has finalised the sale of Louisiana’s Belle of Baton Rouge Casino Hotel to CQ Holding Company, which swells its land-based roster further still.

The sale of the riverboat gaming establishment and hotel has been a long time coming after first being agreed in December 2020.

This, at the time, became the latest in a string of sales documented by Caesars following its multi-billion dollar business combination with Eldorado Resorts.

The Belle of Baton Rouge, which opened in 1994 as Louisiana’s first casino, spans 28,500 square feet, with the riverboat featuring three decks of gaming, meeting spaces, two parking garages and more.

CQ Holding’s property portfolio also boasts DraftKings at Casino Queen in East St Louis; Casino Queen Marquette in Marquette, Iowa; and fellow Baton Rouge riverboat the Hollywood Casino. A purchase price for the Belle of Baton Rouge was not disclosed.

“The acquisition of Belle of Baton Rouge provides us with an exciting opportunity to enhance the gaming and other amenities in the Baton Rouge community,” remarked Terry Downey, President and CEO of CQ Holding Company. 

“With the launch of sports betting and exciting renovations planned for Belle of Baton Rouge and our other newly acquired property, Hollywood Casino, we look forward to elevating the city’s allure as a gaming destination.”

Louisiana entered the US’ mobile sports betting ecosystem earlier this year, after the Pelican State’s Gaming Control Board confirmed that eligible operators could commence the activity from 8am local time on Friday 28 January.

Last month, data from the Louisiana Gaming Control Board revealed that the state’s online sportsbooks saw revenue jump significantly in March, despite recording a slight drop in handle.

The state’s online sportsbooks drew $205.7m in wagers during the month, down on the previous month’s $211m. Revenue was up in March from February’s $16.7m to a new record of $28.4m.

Author: Ava Harvey