It appears Caesars Entertainment is finally calling it quits in trying to enter Macau.
It is selling the 175-acre Caesars Gold golf course where it had hoped to build a casino.
The purchaser is Asian developer Pearl Dynasty, which is paying $438m. That is $140m less than Caesars' 2007 purchase price.
An initial deposit on the land of $65.7m is expected in the next week. The deal is slated for completion in the next 90 days.
Proceeds from the sale will be used to pay down debt.
