$17.3B Eldorado Buyout of Caesars Complete
CBJ — Eldorado Resorts has completed its $17.3 billion buyout of Caesars Entertainment Corp.
It’s an incredible rise to power for Eldorado, which began in 1973 with a single hotel-casino in Reno. It will keep the legendary brand name of Caesars moving forward.
The acquisition now means the combined company will own and operate more than 55 casino properties in 16 U.S. states, including eight resorts on the famous Las Vegas Strip.
“We are pleased to have completed this transformative merger,” Tom Reeg, former CEO of Eldorado Resorts and now CEO of Caesars Entertainment Inc. said in a statement.
The buyout also affects Caesars properties in Canada (Windsor), the UK, Egypt, Dubai and a golf course in the Chinese gambling hotspot of Macau. The merged company has now moved past MGM Resorts International as the world’s largest casino operation. The merger also involves significant properties in Arizona, Colorado, Florida, Illinois, Iowa, Mississippi, North Carolina, Ohio, Pennsylvania and Maryland.