Eldorado wins Nevada approval for Caesars acquisition

Eldorado Resorts has secured approval from the Nevada Gaming Control Board and Gaming Commission to proceed with its proposed acquisition and subsequent merger with Caesars Entertainment Corporation.

The two operators first announced the deal last year, with Eldorado set to pay $17.3bn – $7.2bn in cash, and approximately 77m Eldorado common shares – to take ownership of the Caesars business.

The merger was subject to a number of customary closing conditions, including securing approval from authorities in Nevada. Shareholders from both Eldorado and Caesars in November also gave the deal the green light, while authorities in a number of other states have cleared the merger.

Eldorado had previously said it hoped to complete the acquisition before the end of the first half of 2020, but it is now unclear when the merger will be finalised.

Read the full story on iGB North America.