Eldorado Resorts reached a key milestone Wednesday after gaining approval from Nevada casino regulators to buy Caesars Entertainment in a $17.3 billion merger acquisition.
Approved by the Federal Trade Commission and unanimously endorsed by both the Nevada Gaming Control Board and Gaming Commission, the deal will see Eldorado emerge as a gambling giant and one of Nevada’s largest employers.
Pending regulatory approval from Indiana and New Jersey, Eldorado could eclipse MGM Resorts International as the largest US casino operation, putting a total of 60 casinos and resorts in 16 states under one umbrella. The Indiana Gaming Commission is scheduled to meet Friday, with the Indiana Horse Racing Commission meeting on Monday and the New Jersey Casino Control Commission on 15 July.
In a statement, Eldorado CEO Tom Reeg said the merger will produce an extremely powerful suite of iconic gaming and entertainment brands, as well as valuable strategic alliances with industry leaders in sports betting and online gaming.
“The combined entity will serve customers in essentially every major US gaming market and will marry best-of-breed practices from both entities to ensure high levels of customer satisfaction and significant shareholder returns,” added Reeg.
Eldorado operates over 22,000 slots and 640 table games, as well as a portfolio of over 11,000 hotel rooms. Caesars Entertainment is a well-known casino brand, with its flagship outlets in Las Vegas, operating under the Caesars, Harrah’s and Horseshoe brand names.
In addition to the merger, Nevada regulators also approved William Hill taking over operations of Caesars sportsbooks. William Hill is the sportsbook provider for Eldorado and currently has 113 sportsbooks in Nevada.