Casino operator Caesars Entertainment has sold its 20% stake in three Ohio casinos to its partner Rock Gaming.

Terms of the deal, announced Thursday by the local subsidiary of Detroit-based Rock Gaming, were not disclosed. Rock Ohio Ventures will now own 100% of the three properties – Horseshoe Cleveland, Horseshoe Cincinnati and the ThistleDown racino – while Caesars will continue to manage the properties. Rock Gaming and Caesars will continue to share ownership of the Horseshoe Casino Baltimore in Maryland.

The sale was possible because the three casinos were held outside Caesars’ main unit, Caesars Entertainment Operating Co (CEOC), which is currently embroiled in highly contentious Chapter 11 bankruptcy proceedings.

CAESARS TO HIRE INSPECTOR CLOUSEAU TO INVESTIGATE ASSET TRANSFERS

Thursday also brought news that CEOC has asked the bankruptcy court to appoint an outside examiner to determine whether Caesars’ controversial asset transfers amounted to, as junior creditors have alleged, a blatant ‘looting’ of CEOC to shield those assets from creditors’ clutches.

Caesars has offered to provide $10m to fund the investigation, which they believe will take 120 days to conduct. Caesars helpfully suggested that similar probes currently being conducted by creditor groups should be shut down so as not to interfere with this probe.

Wilmington Trust, which represents creditors owed $479m, filed papers with the court accusing Caesars of not being interested in discovering “what they did or what they should do now to remedy their wrongs, but rather to forestall creditor investigations and access to documents.”