Caesars Entertainment Corp has agreed to sell its golf course in Cotai to Asian developer Pearl Dynasty Investments Ltd for US$438 million (MOP3.5 billion). Caesars expects the sale to be completed in the fourth quarter of this year. The Las Vegas casino company said in a filing it expected to make about U$420 million from the sale, which it will use for capital spending or to repay debt. Caesars decided last year to sell the land after a five-year wait for government permission to build a casino.
—
