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Caesars Merger with Eldorado Moving Forward

Published

5 years ago

April 3, 2020

Caesars Merger with Eldorado Moving Forward

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The Coronavirus outbreak has delayed the $17.3 billion deal between Caesars Entertainment and Eldorado Resorts, but the deal is moving forward. The anticipated closing of the $17.3 billion deal has been pushed from April to June.

The regulators in Indiana, New Jersey and Nevada still need to sign off on the deal but have postponed hearings. The merger also needs the approval of the Federal Trade Commission.

“The board is still investigating. The merger is going like any other merger. It’s just going through the process, which includes a normal investigation,” Nevada Gaming Commission Chair Tony Alamo said.

Eldorado and Caesars had anticipated closing in mid-April, but multiple sources said it now looks more like June. There has been widespread speculation that the Coronavirus pandemic will change the ways regulators view the debt associated with this deal. A highly placed source says both companies have the liquidity to last for well over a year.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.