Caesars Entertainment Unveils $400M Atlantic City Investment Plan

Atlantic City Casinos

When Caesars Entertainment merged with Eldorado resorts last year, the New Jersey Casino Control Commission or CCC put a big stipulation before signing off the merger. And that stipulation was for the company to invest a total of $400M in its Atlantic City casinos over a three-year period.

On Wednesday, Caesars Entertainment unveiled the details of that investment, which includes remodeled room towers, new restaurants and amenities, and more. The investment will kick off with a a $170M renovation that is expected to begin this summer.

Per Caesars President and Chief Operating Officer Anthony Carano in a press release:

“These exciting plans … will revitalize Caesars’ brand of hospitality, and will continue to position Harrah’s, Tropicana, and Caesars Atlantic City as leading resorts in the market. We remain bullish on Atlantic City, and this commitment will further position us for long-term growth and success.”

$170M Kick Off Renovation

The projects kick off with a $170M renovation of 600 guest rooms and suites at Caesars Atlantic City and Harrah’s Resort in Atlantic City.

According to the press release, the new room design at Caesars will feature a modern Roman aesthetic. The inspiration for the design was drawn from the local scenery in Atlantic City. These include beaches, the ocean, the boardwalk, and will feature hues of blue and cream accent colors that will be paired with contemporary furniture.

As for Harrah’s, its new design will display “rich elements that are fun, lively, and vibrant”. This theme will play off the resort’s sophisticated Marina District location. The refreshed rooms for Harrah’s Atrium Tower as well as Caesars’ Centurion and Ocean Towers will be open this summer.

Part of CCC’s Approval of Eldorado Merger

Caesars $400M investment in Atlantic City is part of the CCC’s approval of the merger between Caesars Entertainment and El Dorado. Apart from the required spending, Caesars was required to sell off one of its Atlantic City casinos to ease monopoly concerns. As a result, the company sold Bally’s to Twin River Worldwide Holdings in Rhode Island last year for only $25M.

Aside from Caesars and Harrah’s, the company also operates the Tropicana at the Boardwalk. Each of the three casinos are owned by VICI Properties, which is Caesars real estate investment trust or REIT. Caesars pays VICI annual rent to lease all operations inside the casino properties.

Caesars Rewards is Expanding to New Properties

Caesars Rewards Program

Earlier this year, Caesars Entertainment and Eldorado Resorts merged to become the largest casino company in the United States. This new company now owns a huge number of major casino-resorts around the country. According to new reports, Caesars Rewards is expanding to many new properties.

It’s great news for members of this program. Caesars has one of the largest loyalty reward programs in the world. Today, we’ll take a look at how exactly it is changing.

Let’s get into it!

Caesars Now Operates More than 50 Properties Around the US

When the news broke that Eldorado Resorts and Caesars Entertainment were merging, it spread like wildfire. Both of these companies own a huge number of gambling properties. This merger would form the largest casino company in the country.

Getting this deal done took much longer than initially expected. Many state gambling commissions needed to grant their approval for the merger to go through. The FTC also needed to give it the green light.

Hope was that this merger would be completed by the end of 2019. That time frame was then pushed back to early 2020. Finally, after receiving approval from the FTC, this massive deal was concluded on July 20th.

Both Caesars Entertainment and Eldorado Resorts were forced to sell several of their properties in order to join forces. That doesn’t mean the newly-merged company is lacking casinos now. Caesars still owns and operates more than 50 different properties around the country.

Incredibly, this company is still trying to expand. It’s also focused on attracting new gamblers into casinos. This is proving to be extremely difficult, and casino revenue is still much lower throughout the US than it was in 2019.

News is now coming out that Caesar’s popular loyalty program is about to get better.

Here’s What’s Happening With Caesars Rewards Program

Caesars Entertainment has long been known for having one of the biggest and best casino loyalty programs. It initially started as the Total Gold slot players club all the way back in 1997. This program helped the casino track the activity of its patrons.

This program has expanded over the years. It’s not the biggest promotion on the planet. Incredibly, this program is about to get even bigger.

New reports claim that Caesars Rewards is set to grow by 20%. Following the merger with Eldorado Resorts, Caesars is expanding this casino loyalty program to an additional 18 properties. Members of Eldorado’s programs have now been integrated into the one run by Caesars Entertainment.

This move comes more than a year after CEO Tom Reeg spoke about improving this popular loyalty program.

“The combination with Caesars presents attractive incremental revenue synergy opportunities as we plan to strengthen Caesars Rewards, the industry’s leading player loyalty and CMS database, and combine it with Eldorado’s to market to over 65 million rewards customers nationally,” Reeg said. 

18 additional casinos around the country are now a part of Caesars’ popular loyalty system. It’s great news for thousands of gamblers. This will help bring these casino gamblers a huge number of new, exciting perks.

Caesars Entertainment is Making Moves in the Sports Betting Industry

The US casino industry is struggling right now. Revenue from this industry seems to be increasing in many parts of the country, yet remains much lower than it was in 2019. The country’s sports betting industry, however, is surging right now.

Sports betting revenue has been increasing rapidly in many areas of the country. New Jersey, in particular, has been seeing huge earnings from this industry. The state recently saw $748 million in sports betting handle, a new all-time high.

News recently broke that Caesars agreed to purchase William Hill for an astounding $3.7 billion. It was a massive move for the casino company. William Hill is known as one of the largest sports betting operators in the world. The acquisition of this company will allow Caesars to take over all of the company’s US assets.

This is the perfect move to make at a time like this. Many new states are likely to legalize and regulate sports betting sometime over the next few months. That includes Louisiana and Nebraska.

There’s clearly a lot going on with this company. Caesars Rewards is set to expand massively over the next few weeks. Caesars is also set to operate several new sportsbooks soon.

Are you excited to hear that Caesars’ rewards program is expanding? Let us know in the comments section below!

Churchill Downs is Likely to Buy Caesars Southern Indiana Casino

Indiana’s casino industry is in a very interesting position. Not long ago, the state’s Gaming Board officially approved the massive merger between Caesars Entertainment and Eldorado Resorts. Rumors are now beginning to surface that Churchill Downs is interested in buying Caesars Southern Indiana Casino.Churchill Downs

Many feel this move makes sense. This purchase would give this company a huge new stake in the Indiana casino industry. Today, we’re going to look at when Caesars Southern Indiana might be taken over.

Let’s get into it!

Indiana Gaming Board Finally Approves Eldorado-Caesars Merger

In mid-2019, officials within Eldorado Resorts and Caesars Entertainment announced they planned to merge. Caesars had been struggling for years and some experts predicted that another casino company would take it over. The news of the Eldorado-Caesars merger spread like wildfire.

After the merger, this would become the most powerful casino company in the United States. Obviously, a deal of this size takes a long time to complete. The FTC and various state gambling commissions around the country needed to approve the deal before it could come together.

As time went on, more of these commissions gave approval. Towards the end, only Nevada, New Jersey, and Indiana were left to give the green light. In early July, officials within the Indiana Gaming Board gave Eldorado and Caesars the thumbs up to come together.

It was incredible news for these companies. They have since gained all final approvals to come together. Eldorado will take on the Caesars name and now has permission to control all of its properties around the world.

In order for Indiana to approve this deal, however, the Gaming Board requires Caesars to sell some of its properties. That includes the Caesars Southern Indiana Casino. Some analysts are now making their predictions on which company will purchase this popular casino.

Experts Predict Churchill Downs Will Buy Caesars Southern Indiana Casino

As we just mentioned, the new Caesars is now the most powerful casino company in the country. Indiana’s Gaming Board recognized that once the merger is complete, the new company would control 50% to 60% of the state’s gambling revenue. Board members required the company to sell three of its major properties in the state before the merger could be approved.

The Caesars Southern Indiana Casino is set to go up for sale. Many now feel that Churchill Downs will acquire this new venue. It would give the Louisville, Kentucky-based company a major advantage in the local gambling scene.

Indiana gambling analyst Ed Feigenbaum called the move a “no-brainer,” and believes it would help to significantly increase Churchill Downs’ revenue flow.

“Churchill can protect its backyard, add to its Indiana customer base, and obtain a missing link between its Chicagoland properties and Louisville,” he said. “The company has the resources, and should have no trouble being licensed.”

Officials at Churchill Downs are keeping quiet about this possibility. It’s likely that several different companies will bid for the right to acquire this gambling venue.

Is now the best time for companies to invest in new properties, though?

US Casino Companies Remain in a Tough Spot

When the merger between Eldorado and Caesars was first announced, it seemed like the perfect move for both companies. No one could have predicted where the casino industry would be at the time of the merger’s completion. Obviously, things are not ideal right now for major US casino companies.

Gambling revenue across the country remains significantly lower than it was in 2019. Despite most states reopening their casinos, visitation to these gambling venues remains low. Many simply don’t want to play inside a crowded casino during a global pandemic.

This is affecting certain parts of the country worse than others. Casino companies continue to do everything they can to increase their revenue figures. That includes increasing safety measures inside casinos and focusing more on online gambling operations.

Some feel that this is not the best time for casino companies to buy major properties. No one really knows how things will look six months from now. There’s a chance that the US casino industry is in an even worse spot than it is right now.

On the other hand, casino sale prices may be lower now than they were last year. Perhaps that offers Churchill Downs a good opportunity with Caesars Southern Indiana Casino. We’ll need to wait and see how this company moves forward over the next few weeks.

Stay tuned for more US casino news over the next few weeks!

The Isle of Capri Casino is Set for a Major Upgrade

Not long ago, Twin River Worldwide Holdings Inc. officially acquired the Isle of Capri Casino in Kansas City, Missouri. Company officials hinted they planned to add some new features to this struggling gaming venue. According to new reports, the Isle of Capri Casino is set for a $61 million upgrade soon.Isle Of Capri Casino

Twin River certainly sees the potential in the venue. Hope is that this company can turn this casino into a major tourist destination. Today, we’re going to look at what exactly Twin River has planned for this property.

Let’s get into it!

Eldorado Resorts Completes Acquisition of Caesars Entertainment

The merger between Eldorado Resorts and Caesars Entertainment first began back in June of 2019. It was huge news for the US casino industry. Eldorado agreed to pay $17.3 billion for the acquisition of Caesars, the most money ever paid for a casino company.

Once the merger was complete, this would become the largest casino operator in the United States. Obviously, gambling commissions around the United States began taking a close look at this deal. These commissions wanted to ensure that this new company would not result in a monopoly.

The FTC approved this merger back in June of this year. Eldorado and Caesars received the final approvals from three more gambling commissions last week. On Monday, news broke that this merger finally concluded.

Getting to this point wasn’t easy. Over the past 13 months, Eldorado and Caesars were forced to sell many of their biggest properties. That includes the Isle of Capri Casino in Kansas City, Missouri.

Twin River Worldwide Holdings Inc. purchased this venue in June of this year for $230 million. It was well-known that this venue was struggling and many had questions about how Twin River planned to turn things around. This week, the company’s plans became more clear.

Here’s what’s currently being planned.

Twin River Plans $61 Million Upgrade to the Isle of Capri Casino

Back in 1996, the Hilton Flamingo casino first opened its doors near the Missouri River in Kansas City. This venue struggled to generate players and in 2000, was sold to Isle of Capri Casinos. The casino started to see its revenue increase and in 2017, Eldorado Resorts announced it was purchasing this venue.

In order for Eldorado Resorts to merge with Caesars, the Missouri Gaming Commission required this company to sell the Isle of Capri. Twin River Worldwide Holdings Inc. revealed that it bought the venue in June for $230 million. Officials within Twin River have just revealed an exciting new upgrade to this property.

According to the development committee of the board that oversees the Port Authority of Kansas City (Port KC), Twin River wants to add several new additions to this venue. Jon Stephens, president and CEO of Port KC, spoke about these plans to the media this week.

“This is downtown’s casino, so to speak,” Stephens said. “And so if they’re willing to invest, we do think it helps to secure the long-term growth and availability of the greater riverfront.”

It’s clear from financial reports that the Isle of Capri Casino is one of the least financially-successful casinos in this area. Twin River plans to add a new restaurant, retail, spa, and amphitheater. The company is also considering adding a hotel to this venue.

Officials in Kansas City are excited to hear about these plans. The city profits when casinos are successful. How long will it take for revenue to begin increasing here, though?

US Casino Industry Continues to Struggle

It’s exciting news to hear that Twin River plans to upgrade the Isle of Capri Casino. Of course, it may be a long time before this company sees the profits from this move. The US land-based casino industry is still struggling right now and no one can accurately say when things will get back to normal.

Many casinos around the country have already reopened. Over in Las Vegas, nearly all of the casino-resorts on the Las Vegas Strip are now up and running. Unfortunately, tourism here continues to drop as rates of Covid-19 increase.

Atlantic City began allowing its casinos to reopen over the Fourth of July weekend. City officials hoped that, despite the intense safety measures set in place, visitors would still flock to this gaming destination. That does not appear to be the case.

More gambling revenue reports continue to come out. All states have seen their earnings plummet over the past few months. Most analysts predict this trend will continue throughout 2020.

Casino companies are doing everything they can to boost tourism. This is much easier said than done. We’ll need to wait and see how efforts to contain the new coronavirus in the country progress over the next few months.

Are you excited to see the Isle of Capri get this upgrade? Let us know in the comments section below!

Here’s a Look at the Biggest Casino Company in the US

The massive merger between Eldorado Resorts and Caesars Entertainment has officially been finalized. It took more than a year and an incredible amount of effort. With the deal now done, Eldorado and Caesars have formed the biggest casino company in the US.Eldorado And Caesars Logo

This is a historic moment for the US casino industry. Many analysts are now looking at how this merger will affect different states moving forward. We’ll also look at ways this new company plans to deal with the current issues plaguing land-based casinos.

Let’s get into it!

With Final State Approval, Eldorado and Caesars Could Finally Merge

Eldorado Resorts and Caesars Entertainment first announced they planned to merge back in June of 2019. Obviously, this news spread like wildfire. Eldorado agreed to pay $17.3 billion to acquire Caesars; the most expensive purchase in the history of casino companies.

State gambling commissions around the country took notice. Before these two companies could merge, they would need approval from all the commissions they operate in. These government bodies want to ensure the newly-merged company would not result in a monopoly.

Gaining state approval became priority number one. Both Eldorado and Caesars were forced to sell many of their properties in order to get the green light from various commissions. As the months went on, more and more of these commissions approved the merger.

Last month, the FTC finally gave it the go-ahead, as well. This was a crucial step for both companies. Only three more commissions were needed to approve the deal. Eldorado and Caesars arranged meetings with members of these commissions in Las Vegas earlier this month.

First Nevada approved the deal. Not long afterward, Indiana did the same. Late last week, New Jersey’s gaming commission finally gave it a thumbs up, too. With that final approval, this massive deal could finally conclude.

The Biggest Casino Company in the US has Just Been Formed

After more than a year, the massive deal between Eldorado Resorts and Caesars Entertainment has concluded. These companies are now under one banner, making this the biggest casino company in the US. That’s a big statement when considering some of the other casino companies here such as MGM Resorts International and Las Vegas Sands.

Moving forward, the company will keep the Caesars name. It will take control of all 55 properties across many different states. Tom Reeg, CEO of the newly-merged company, has some interesting ideas to immediately boost revenue. Much of his strategy involves cutting down on unnecessary costs.

It’s being reported that most of the company’s properties outside of Las Vegas will remove buffets. These are said to cost an estimated $3 million per year. Ultimately, the juice is not worth the squeeze.

Anthony Carano, COO of the company, also gave some insight on how it plans to make up for its $13 billion debt. He claims most properties outside the US will be sold. It’s possible that several more US casino sales will also take place.

This is a very interesting time for the US casino industry. The biggest casino company in the US has just been formed, yet many gambling venues around the country remain shut down. What are analysts saying about the future of this industry?

Experts Predict More Tough Months Ahead for Casino Companies

The world is in an unprecedented time right now. Never before have entire economies been shut down like they have been over the past few months. The land-based casino industry in the US has been hit particularly hard due to the regulations set in place.

In many states, only Native American casinos are able to operate. These venues sit on sovereign land and do not need to abide by state regulations. Commercial casinos, like the ones found in Las Vegas, can be shut down at a moment’s notice.

Obviously, all US casino companies have been keeping a close eye on new regulations. Some parts of the country are allowing these venues to operate. Others have not yet given the green light for casinos to reopen.

Most analysts predict another tough six months ahead for these casino companies. Even the casinos now reopened are seeing much lower revenue earnings than they did back in January. Some may be forced to close again if rates of Covid-19 don’t begin to decrease.

This obviously isn’t great news for the biggest casino company in the US. Caesars will now be looking to adapt to this market, with an emphasis on online sports betting, in particular. We may see this entire industry evolve as the months go on.

Stay tuned for more US casino news!

New Jersey Officially Approves Eldorado-Caesars Deal

For more than a year, two companies have been working to join forces and become the largest casino operator in the country. It’s been a long, sometimes frustrating journey for Eldorado Resorts and Caesars Entertainment. Fortunately, it looks like this deal is nearly complete. New Jersey has officially approved the Eldorado-Caesars deal; the final green light needed for the companies to merge.The Word Approved Written In Red

The champagne is flowing over in Nevada. Today, we’re going to look at what led to New Jersey’s approval. We’ll also discuss what still needs to be done for these companies to officially become one.

Timeline of the Eldorado Resorts-Caesars Merger

Eldorado Resorts has long been one of the most powerful casino companies in the United States. It’s grown considerably over the years and now owns property in many different states. Eldorado CEO Tom Reeg continued to tell the media he wanted to expand even further over the past few years.

In June of 2019, Reeg’s ambition became clear. News broke that Eldorado Resorts had agreed to purchase Caesars Entertainment for an incredible $17.3 billion. With the purchase, all of Caesars’ assets would become Eldorado’s.

It’s the largest merger between two casino companies in history. In order for the deal to go through, these companies needed approval from the various gambling commissions in the states they operate in. The FTC also needed to approve the deal to ensure this company does not form a monopoly.

Company officials immediately began working to gain these approvals. Many different properties needed to be sold. Eldorado and Caesars were doing what was required and the companies continued to receive the green light from different gaming commissions.

In late June, the FTC formally approved the Eldorado-Caesars deal. Only three more states needed to sign off on the deal for it to complete. Nevada gave a thumbs up and just a few days later, Indiana did the same. It then all came down to New Jersey’s commission.

This week, the last approval needed for this merger to go through was granted.

New Jersey Finally Agrees to Allow the Eldorado-Caesars Deal

It wasn’t a surprise to see states take so long to approve this deal. Once it’s complete, Eldorado-Caesars will become the country’s most powerful gaming company. Commissions want to do everything they can to ensure things are fair for the other casino companies operating in their territory.

New Jersey, in particular, was very slow to give the green light. It forced a number of property sales in Atlantic City. Commission officials met on many occasions to discuss the impact that this merge will have on the state’s casino industry.

Last week, members of this commission met for a final time in Las Vegas. Here, officials within Eldorado Resorts and Caesars explained how things will remain competitive for all other casinos in Atlantic City. It seems their efforts have finally paid off. The commission officially gave these companies its approval.

Commissioner Alisa Cooper made sure to stress that “The stakes could not be any higher” once these companies come together. Ultimately, she and other commission members felt confident that the newly-merged company would not concentrate too much of the local gambling economy.

With New Jersey’s approval of the Eldorado-Caesars deal, things are now close to being finalized. This merger is expected to finish in the next few days. A few more papers need to be signed, yet all the hard work is now done in getting the deal done.

Will This Deal End Up Paying Off for Eldorado Resorts?

When Tom Reeg first agreed to purchase Caesars Entertainment, he likely had a much different idea of what this week would look like. At the start of 2020, the casino industry was surging and most felt things would continue on that path for years to come. In just a few months, the country’s land-based gambling industry was turned on its head.

Casinos around the country have begun to reopen. Some have since had to close down due to a spike in Covid-19 cases. Many casino companies are now being forced to lay off thousands of their workers.

It’s clear that the casino industry is in a tough place. New Jersey’s gaming revenue was 66% lower in June of this year than it was in 2020. It’s important to note that casinos had not opened here until July, though. Most analysts predict that casino revenue will continue to be significantly lower this year, even after casino markets reopen.

Eldorado paid $17.3 billion to acquire Caesars. Company officials likely hoped that this money would immediately begin flowing back in from its new properties. That may not necessarily be the case right now.

No one can really say how things will look in the future. It’s hard to imagine the land-based casino industry never recovering. We’re in strange times, however, and it could be years before casinos truly get back to the levels they were at last year.

With New Jersey’s approval, the Eldorado-Caesars deal can finally conclude. Now, the focus for this new casino giant will be increasing its revenue flow. Stay tuned for updates over the next few weeks.

The New Danville Casino Plans Have Been Approved!

For years, lawmakers in Virginia have discussed ways to effectively expand the state’s gambling industry. One of the ways to achieve this goal is to open a large new casino in the city of Danville. According to new reports, the new Danville casino plans have officially been approved by the Virginia Lottery.

New Danville Casino Plans

It’s a big step in getting this venue built. Today, we’re going to look back at the state’s road to opening more casinos. We’ll also look at what else needs to be done in order for the Danville casino to open.

Let’s get into it!

History of Gambling Legislation in Virginia

Back in the 1800s, Virginia had one of the largest gambling industries in the United States. By the turn of the century, lawmakers here began to associate this industry with crime. They eventually made the decision to ban nearly all forms of traditional gambling.

This legal ban on gambling remained in place for decades. Beginning in the 1990s, however, state officials here began to change their stance. Many recognized how much money having a regulated casino industry could bring the state.

Several bills to legalize casinos were presented over the past 20 years. None managed to gain any traction. Fortunately, things appear to be changing. In March of this year, Virginia’s House of Delegates finally approved a measure to allow several commercial casinos to open around the state.

This was one of the crucial steps needed to get this bill put into legislation. Since that time, many have been working to come up with specific plans to open casinos in different cities. Casino proponents want to clearly explain how opening a casino will help the state’s economy.

Since 2019, lawmakers have been interested in opening a casino in the city of Danville. Many residents of this city have supported the idea, as well. It now appears we’re closer than ever to seeing a casino constructed here.

Virginia Lottery Approves the New Danville Casino Plans

City officials in Danville have been working hard to get their casino plans approved. It certainly hasn’t been easy, though. The state’s Lottery Commission, responsible for monitoring all gambling activities here, needed to give its approval for the project to move forward.

Fortunately, that’s what’s happened this week. The Virginia Lottery has officially pre-certified the new Danville casino plans. This paves the way for the casino referendum to make its appearance on November’s ballot. Voters in the city will then ultimately decide whether or not to allow a casino.

Ken Larking, City Manager of Danville, spoke about the situation to the media this week.

“It’s certainly good news,” he said. “We’re glad Caesars was able to pull together the necessary information and show the state that they are capable of developing a high-quality project in our community.”

Officials in the city of Danville are obviously excited to see this project move forward. Recently, the Lottery also approved casino projects in Bristol, Norfolk, and Portsmouth. Of course, approval of these projects does not mean a casino license is guaranteed. This is a separate process that takes place once voters approve the casino referendum.

It’s established that Caesars Entertainment will operate the casino expected to be built here. As many know, this company is involved in a massive merger with Eldorado Resorts right now. Here’s where things stand with that situation.

New Jersey Gaming Commission Gives Approval For Eldorado-Caesars Merger

The higher-ups in Caesars Entertainment have to be excited to hear that the new Danville casino plans have been approved. Of course, most of the company is solely focused on its merger with Eldorado Resorts. Back in June of 2019, Eldorado paid an incredible $17.3 billion to acquire Caesars and its assets.

This is the largest merger between two casino companies in history. Our team has been covering the merge for more than a year. Obviously, such a massive deal takes a long time to complete.

Initially, the plan was for everything to be finished by June of this year. After several delays, company officials pushed the finalization date to July. It now appears that things will be completed in August.

Eldorado and Caesars recently gained approval from the Nevada and Indiana Gaming Commissions. These companies now only need the green light from New Jersey’s regulators for things to move forward. Hope was that this would get done before the end of the week.

News has just broken that New Jersey has officially approved the merger. It was the final hurdle in the way of the deal closing. Only a few more easy steps are needed before the country’s largest casino merger is done!

These companies have reason to celebrate. Their deal is nearly complete, and the new Danville casino plans have officially been approved. Stay tuned for more news on Virginia’s casino industry over the next few weeks!

Indiana Horse Racing Commission Approves Eldorado and Caesars to Merge

The merger between Eldorado Resorts and Caesars Entertainment has been ongoing since June of 2019. As many already know, it’s the largest deal ever made between two casino companies. Before this merger can be completed, both companies need approval from various state gambling commissions. This week, the Indiana Horse Racing Commission officially approved Eldorado and Caesars to merge.Eldorado And Caesars Logo

It’s fantastic news for these major casino operators. This deal is close to being finalized. Now is the perfect time to look at what still needs to be done for this massive deal to finally conclude.

Let’s get into it!

Meetings With State Gambling Commissions Have Concluded

Back in June of 2019, Eldorado Resorts shocked the US gambling industry by announcing it paid an incredible $17.3 billion to acquire Caesars Entertainment. Both Eldorado and Caesars have major casino-resorts all over the country. This merger would form the largest casino company in the United States.

It takes a long time for something like this to come together. Various state gambling commissions need to approve this merger. Before it could come together, the FTC also needed to ensure this deal would not result in a monopoly.

After more than a year, it seems this merger is nearly finished. The FTC has officially given the green light for both companies to join forces. After, only three more state gambling commissions needed to approve the deal.

This month, members of Eldorado and Caesars have been meeting with members of the New Jersey, Indiana, and Nevada gambling commissions. Nevada gave its approval for the deal last week. Only two more commissions were left.

Officials within Eldorado and Caesars met with regulators in Indiana on July 10th. Some felt that these commission members may find some issues with the deal. Fortunately, they have given the green light for things to move forward.

Indiana Horse Racing Commission Approves Eldorado and Caesars to Merge

The meetings taking place in Las Vegas right now are historic. With approval from the three commissions, these companies can finally come together. New reports confirm that two of these commissions have now officially given the green light.

The official Indiana Gaming Commission approved this deal to move forward last Friday. Today, members of the Indiana Horse Racing Commission unanimously voted to allow Eldorado and Caesars to merge, as well. It’s the final hurdle needed for both companies to come together in Indiana.

With this decision, horse racing licenses from Harrah’s Hoosier Park and the Indiana Grand can now be transferred from Caesars to Eldorado Resorts. Of course, there are 22 conditions that must be met for the licenses here to remain valid.

Eldorado Resorts’ CEO Tom Reeg commented on the approval during the meeting, promising to help grow the state’s gambling industry.

“We know that racing is why you have the casino opportunities that you have in these two properties, and our pledge to you is to drive that racing business to another level,” Reeg said. “You’re already at a really high level. We’ll work to take it even higher.”

With the news, these two companies only need approval from one more state. Investors are now looking closely at how Eldorado’s share prices may change over the next few weeks.

Investors Are Now Looking Closely at Eldorado Resorts

Everyone feels that commission members in New Jersey will give the green light for this merger to move forward. Once that happens, Eldorado Resorts will become the largest casino company in the US. Obviously, that’s an exciting prospect for investors.

Recently, several major US casino companies saw their share prices surge. China announced that travel restrictions to and from Macau were lifting. As a result, many US casino companies with property in Macau are likely to see their earnings increase rapidly.

This goes to show how many opportunities are available for investors in this industry. According to a new report, Eldorado’s stock price could increase by an incredible 150% over the next couple of weeks.

It’s an extremely unusual time for the world’s land-based casino industry. Casino companies are doing everything they can to attract new players and increase their revenue. Just about everyone expects Eldorado and Caesars to merge sometime next month.

We’ll continue to offer updates on this historic deal. Our team will also continue to write about the situation over in Macau. Stay tuned!

Merger Between Eldorado and Caesars Should Complete Next Month

The highly-publicized merger between Eldorado and Caesars has been taking place since June of 2019. It’s the largest deal ever made between two US casino companies. According to new reports, this massive merge should be completed by next month.Eldorado And Caesars Logo

It’s exciting news for both of these companies. The process of joining forces has been hugely expensive and time-consuming. Today, we’re going to look at what still needs to be done for the merger to be officially approved.

Let’s get into it!

FTC Officially Approves Eldorado Resorts-Caesars Entertainment Deal

Eldorado Resorts is one of the fastest-growing casino companies in the country. It owns and operates several major casinos around the country. Officials within this company have continued to tell the media that they plan to expand as soon as possible.

Back in June of last year, news broke that Eldorado had agreed to pay $17.3 billion to acquire Caesars Entertainment. As we just mentioned, this was the largest merger ever made between two casino companies. Many analysts immediately began looking into what it takes to complete a deal like this one.

Both Eldorado and Caesars Entertainment own major casinos in different states. That means both companies need to receive approval from various state gambling commissions before this deal can go through. They also need to get permission from the Federal Trade Commission.

This process takes time. Initially, officials within these companies told the media they expected the deal to be completed by June of this year. That date has now been pushed back. Fortunately, the FTC recently approved the merger between Eldorado and Caesars to move forward.

This was a crucial step for both of these companies. Now, only a few more states need to give the signal for the deal to move forward. When can we expect that to take place?

With State’s Approval, the Merger Between Eldorado and Caesars Will be Complete

It’s not completely unusual to see casino companies merge. It’s happened several times over the years, yet never between two companies as large as Eldorado Resorts and Caesars Entertainment. State Gaming Boards want to ensure that this deal does not result in the companies forming a monopoly.

Many states have already approved the deal. The FTC seems content with that’s coming together, as well. Now, these companies only need approval from regulators in Nevada, Indiana, and New Jersey.

Meetings between the heads of these companies and the various state commissions have now been scheduled to take place in Nevada. The Nevada Gaming Control Board will meet to discuss the matter on July 8th. Indiana regulators are meeting on July 10th and ones in Indiana will do the same on July 15th.

After receiving approval, the merger between Eldorado and Caesars can finally be complete. Eldorado CEO Tom Reeg is confident this will take place. Most gaming analysts predict the states will give approval for this deal, as well.

The stars seem to be aligning here. One condition the FTC required was for Eldorado Resorts to sell several of its major properties. News recently broke that these casino sales have officially concluded.

Eldorado Resorts Has Officially Sold Two Major Casinos

The FTC recognizes how powerful these two companies will be once this deal concludes. As a result, they want to ensure that things are still fair for markets affected by the merger. The government body ordered Eldorado Resorts to sell two properties in order to receive approval for the merger.

The Montbleu Resorts & Casino in Lake Tahoe and the Isle of Capris in Kansas City were both recently sold by this company. It was a serious move, as both were known to be big money-makers for Eldorado. Obviously, the merger between Eldorado and Caesars proved to be more important.

This is just one more step needed to finalize this important merger. Now, much of the focus is on the meetings taking place this month in Nevada. Only three more Gaming Boards need to give their official approval for this bill.

Most predict all three will give the green light for this merger to move forward. Eldorado and Caesars have both checked all of the boxes needed to get this deal finished.

Anything is possible, though. The country is still dealing with the effects of Covid-19 and many are unsure of how the land-based casino industry will look over the next 12 months. We’ll be sure to offer updates on this situation as it unfolds.

Do you think the Eldorado Resorts-Caesars Entertainment merger will finish this summer? Let us know in the comments section below!

FTC Gives its Approval For the Eldorado-Caesars Deal

For more than a year, Eldorado Resorts and Caesars Entertainment have been working hard to finalize their merger. As many are aware, this is the largest deal ever made between two casino companies. This week, the FTC officially gave its approval for the Eldorado-Caesars deal.Stamp Of Approval

This is a huge step in getting this deal done. Of course, it comes at a time when the US casino industry is hurting. Now is the perfect time to look at what still needs to be done in order to complete this merger.

Eldorado Resorts and Caesars Entertainment Delay Merger

Back in June of 2019, the world was in a much different place. The US casino industry was stronger than ever and several new gambling destinations were beginning to emerge around the country. That month, news broke that Eldorado Resorts and Caesars Entertainment were merging.

Eldorado has expanded rapidly over the past couple of decades. According to the reports, this major casino company paid an incredible $17.3 billion to acquire Caesars. A deal of this magnitude cannot finish overnight, though.

Both of these companies own major properties around the United States. In order to finish this merger, both companies need to receive approval from various state gambling commissions. That’s exactly what these companies have been working on for the past few months.

Gaining approval has been taking longer than many analysts initially predicted. Several states have required that these companies sell casinos to get the green light for the merger to move forward. Not long ago, news broke that this deal would not be finalized this June, as some thought at the beginning of the year.

Finishing a deal like this one during a global pandemic certainly hasn’t been easy. It now seems that things are closer to wrapping than ever before. Here’s why that is.

Eldorado-Caesars Deal is Officially Approved by the FTC

The US casino industry is in a very precarious position right now. Over the past few weeks, several states have slowly begun allowing their casinos to open back up. Rates of Covid-19 are now starting to surge around the country, however, and some feel that states may soon force their gambling venues to close once again.

That would have a major impact on both Eldorado Resorts and Caesars Entertainment. It isn’t stopping them from moving forward with their reopening plans, though. This week, the FTC officially approved the Eldorado-Caesars deal.

This was a crucial step in pushing the merger forward. As we mentioned earlier, these companies need approval from many different state gaming commissions. They also needed the FTC to give the green light, making sure everything is done by the books.

Eldorado Resorts and Caesars Entertainment are now closer to merging than ever before. Tom Reeg, CEO of Eldorado, spoke about the news to the media this week.

“We are delighted to announce the FTC’s approval of our planned Merger with Caesars, which is expected to create the largest owner and operator of U.S. gaming assets. We look forward to completing the Merger, subject to receipt of the remaining consents and approvals from regulators in Nevada, New Jersey and Indiana,” Reed said. 

As Reeg mentioned, these companies need approval from several more states. Based on what’s being said, this should only take a few more weeks. Many are still concerned about the health of the US casino industry as a whole.

Nevada’s Casino Reopening Plans Are Already Facing Criticism

Nevada is still the biggest and most successful casino industry in the US. Shutting down the casinos here was devastating for the state’s economy. Lawmakers realized something needed to change and officially allowed casinos to open back up on June 4th.

Most residents were excited to see this happen. Cities like Las Vegas rely heavily on tourism and casinos help to fuel that industry. Some workers expressed fear that the safety measures being implemented are not effective enough.

Covid-19 infection rates have been increasing here for the past couple of weeks. Many workers are now demanding that casinos change their safety measures. The Nevada Culinary Union even announced that it was suing some of the casinos on the Strip due to their unsafe working conditions.

Forcing the casinos in Nevada to close down again would be devastating to the local economy. It could also have a significant impact on the Eldorado-Caesars deal. Hopefully, casinos find a way to make things safer for employees without having to completely close down once again.

There are still many questions about how the land-based casino industry will look by the end of the year. We’ll have a better picture by the end of the summer. Make sure to stay tuned for updates.

When do you think the merger between Eldorado and Caesars will finish? Let us know in the comments section below!