Eldorado Resorts Gets Green Light to Buy Caesars Entertainment Corp. for $17.3B

This week Nevada casino regulators gave Reno-based Eldorado Resorts the go ahead to purchase Las Vegas-based Caesars Entertainment Corp. for $17.3 billion.

The deal will create a behemoth gambling operation that will operate 55 properties in 16 U.S. states as well as some other countries.

“There’s only one Caesars Palace. There’s only one Caesars Entertainment, a brand that’s known worldwide,” said Gary Carano, Eldorado Resorts board chairman about the buy out.

The merger won unanimous endorsement from Nevada Gaming Control Board regulators and unanimous approval from the state Gaming Commission. The Federal Trade Commission accepted the plan last month after Eldorado agreed to sell properties in Kansas City, Missouri, South Lake Tahoe, California, and Louisiana.

“This deal, I believe, works,” Gaming Commissioner Steven Cohen remarked. “To get this deal done, in this economic climate, in this climate of COVID-19. Good for you. Good for the state. Good for gaming in the United States.”

Approval from regulators in Indiana and New Jersey would create the world’s largest casino operation and make Eldorado one of the largest employers in Nevada.

Eldorado plans to continue operations and stock trades under the name Caesars Entertainment Inc.
“You should expect us to focus on domestic gaming,” Eldorado chief executive Thomas stated.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this
article.