After three days of hearings July 15-17, the New Jersey Casino Control Commission has approved the $17.3B buyout of Caesars Entertainment Corp. by Eldorado Resorts Inc.
The “new Caesars” will have 52 properties in 16 states.
Nevada Gaming regulators approved the merger earlier this month. Eldorado currently does not own a property in Las Vegas. With this acquisition they will own Caesars Palace, Harrah’s Las Vegas, Flamingo Las Vegas, Bally’s Las Vegas, Paris Las Vegas, Planet Hollywood, Cromwell, and Linq Hotel + Experience. Eldorado Chief Financial Officer Bret Yunker said the company would “divest a Las Vegas Strip asset in the first 12 to 24 months after the transaction closes.”
