American casino operator Caesars Entertainment Corporation has announced that the $ 17.3 billion deal to merge with its counterpart Eldorado Resorts Incorporated has been approved by the Federal Trade Commission.
The company, headquartered in Las Vegas, said in an official press release on Friday that the federal agency had completed a review under the Hart-Scott-Rodino Antitrust Improvements Act and found that the agreement met all of the required antitrust approvals. ‘
Caesars Entertainment Corporation previously announced that the proposed merger would involve some being handed over to Eldorado Resorts Incorporated $ 7.2 billion in cash and around 77 million ordinary shares to take a majority stake in its business. It was also claimed that the combined unit too Keep the Caesars brand name and then be responsible for an estate of 76 properties distributed to the United States, including the giant Caesars Southern Indiana, Harrah’s Resort Southern California and the Caesars Atlantic City Hotel and Casino.
Waiting for permits:
Tony Rodio, Chief Executive Officer for Caesars The Entertainment Corporation used the press release to detail that the proposed merger of its company with Eldorado Resorts Incorporated was approved by shareholders of both companies in November prior to approval from state gambling regulators Iowa, Louisiana, Illinois and Pennsylvania. He explained that the planned dealcreate the largest game company“Still in the United States”remains subject to the fulfillment of other closing conditions“Including receiving analogous notices from officials in Nevada, Indiana and New Jersey.
Read an explanation from Rodio …
“We are pleased that the Federal Trade CommissionApproval of our proposed merger with Eldorado Resorts Incorporated paves the way for securing remaining regulatory and regulatory approvals in Indiana, Nevada and New Jersey. We are all determined to complete the merger. ”