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# Caesars sells $438 million Macau golf course to Pearl Dynasty
- URL: https://hospitality.pro/caesars-sells-438-million-macau-golf-course-to-pearl-dynasty/
- Published: 2013-08-13T04:38:42.000Z
- Updated: 2013-08-13T04:38:42.000Z
- Author: H L
- Tags: Hospitality Industry News, Casinos and gaming industry, News, #wordpress, #Import 2026-04-16 12:15

HONG KONG (Reuters) – U.S. casino operator Caesars Entertainment (CZR.O) has agreed to sell a golf course in Macau to Pearl Dynasty Investment Ltd for $438 million, effectively giving up on its wait for casino operating rights in the Chinese gaming enclave.

The Las Vegas-based company said on Friday it plans to use proceeds to fund other capital expenditures or repurchase debt obligations, according to a filing to the U.S. Securities and Exchange Commission. It did not comment further.

This followed a move by Caesars in April to spin off assets, with buyout firms Apollo Global Management LLC (APO.N) and TPG Capital LP investing $250 million each in a new business free from the shackles of the company’s debt, potentially raising up to $1.2 billion for Caesars.

The company was taken private by a consortium led by the two private equity firms in 2008 for $30.7 billion and went public last year. It is struggling to cope with debt topping $20 billion, according to its interim results announced July 30.

Caesars does not own a license to operate casinos in Macau.

The company had bought the land near the territory’s Cotai strip for $578 million in 2007 with the intention of developing a hotel-casino complex, but the Macau government has not increased the six casino operating licenses issued since 2001.

###### Source Yahoo Finance