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Caesars Entertainment sells Bally's brand |

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Caesars Entertainment sells Bally's brand

LAS VEGAS (KLAS) -- Caesars Entertainment has sold its Bally's brand, according to a news release Tuesday from Twin River Worldwide Holdings which purchased the brand.

The acquisition will allow Twin River to keep the Bally's name on the Atlantic City property it plans to buy from Caesars Entertainment. It will also enable the company to rebrand all of its portfolio properties under the Bally's name and logo. The financial terms of the Bally's brand deal were not disclosed.

Twin River owns and manages nine casinos in Rhode Island, Mississippi, Delaware, Missouri and Colorado.

The news release from Twin River says the deal will allow Caesars to continue to use the Bally's brand at its Bally's Las Vegas Hotel & Casino.

In April, Caesars announced it would sell Bally's in Atlantic City to Twin River for $25 million in cash.