Eldorado completes mega-merger with Caesars
Eldorado Resorts has completed its acquisition of, and subsequent merger, with Caesars Entertainment Corporation, in a deal that creates the largest casino and entertainment business in the US.
The two operators announced the deal in June last year, with Eldorado agreeing to pay $17.3bn – comprising $7.2bn in cash and around 77m Eldorado common shares – to take ownership of Caesars.
The mega-merger had been subject to a host of regulatory approvals, the last of which came from the New Jersey Casino Control Commission, which cleared the way for the acquisition to go through.
Following completion, the combined business will now operate under the name ‘Caesars Entertainment Inc.’, with a portfolio of more than 55 casino properties around the world.
Read the full story on iGB North America.