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!

The Merger Between Eldorado and Caesars Won’t Finish This Summer

Almost exactly a year ago, Eldorado Resorts and Caesars Entertainment announced they were joining forces. It was the largest merger between casino companies ever put together. Unfortunately, it appears this merger between Eldorado and Caesars will take a little longer than many analysts predicted.Merger Picture

This isn’t entirely surprising. The world is in the middle of a global pandemic and casino companies have seen their revenue earnings drop incredibly fast. Now is the perfect time to look at why exactly this massive deal is being delayed.

Eldorado Resorts and Caesars Continue to Lose Revenue

At the start of the year, it seemed like the US gambling industry was unstoppable. States around the country were expanding their gambling markets. As a result, casino companies saw their revenue earnings increase sharply.

Eldorado Resorts is one of the biggest casino operators in the country. It owns many casino-resorts and, prior to March, was continuing to purchase more property every month. In June of 2019, news broke that Eldorado Resorts agreed to purchase Caesars Entertainment for an incredible $17.3 billion.

Caesars Entertainment had been struggling for years. Many felt it was only a matter of time before this company was taken over. Many analysts believe this merger worked out extremely well for Caesars.

Unfortunately, both of these companies have lost an incredible amount of money over the past four months. Casinos around the country were forced to shut down back in March. It’s only been a few weeks since most of the country’s gambling venues have reopened.

The pandemic has taken an incredible toll on the economy. As a result, the merger between Eldorado and Caesars is taking much longer to finish than most expected. New reports indicate this deal will not be complete by June, as many initially predicted.

The Merger Between Eldorado and Caesars Won’t Be Complete in June

As we’ve already mentioned, this merger is the largest ever made between two casino companies. In order for this deal to be complete, both companies need to gain approval from various state gambling commissions and the SEC. Obviously, this takes a long time to complete.

It now appears this deal won’t be complete in June. Members of the Indiana State Gambling Commission won’t look at the details of this merger until July 10th. These companies need approval from this state government body in order to push the deal forward.

It’s disappointing news for officials within these companies. For months, they told the media they expected the merger between Eldorado and Caesars to be complete by the end of June. That is no longer the case.

No one knows when exactly this merger will be complete. There are still many steps that need to be taken. Fortunately, both companies’ share prices are starting to increase.

As of today, Eldorado Resorts’ share prices were up by 9%. Caesars saw its prices jump by 2.9%. Many gambling analysts fear that if casinos are forced to shut down once again, these prices will plummet.

The next step to finalize the merger between Eldorado and Caesars is to gain approval in Indiana. We’ll be sure to report on what happens after the commission here meets on July 10th.

More States Begin Allowing Casinos to Reopen

After almost four months of being shut down, casinos around the country are finally starting to open back up. It seems like every single day, more casinos announce they’re starting to accept guests again. Various states have officially given their casinos permission to open back up.

Atlantic City is taking its time lifting restrictions. As many already know, rates of Covid-19 are still high here. State officials worry that reopening casinos will lead to another spike in cases. Governor Phil Murphy believes the casinos here will be opened back up by July 4th.

Las Vegas is slowly getting back to normal. Many of the top casino-resorts in this city have already opened back up. Several more will reopen over the next few weeks.

It’s clear that this industry is getting back on track. The merger between Eldorado and Caesars continues to move forward. Hope is that this massive deal is completed before the end of 2020.

Reopening laws are different in every state. If you want to gamble inside a casino, make sure to check out the regulations. In time, it’s likely that all of the country’s casinos will be able to accept guests.

Make sure to stay tuned for more news on the merger between Eldorado and Caesars!

Eldorado Resorts Plans to Reopen Louisiana Casinos This Week

The US land-based casino industry is slowly coming back to life. Several states have begun allowing their casinos to resume operations. It’s great news for casino companies, many of which have lost an incredible amount of money due to this new pandemic. According to new reports, Eldorado Resorts plans to reopen three of its Louisiana casinos this week.Eldorado Resorts Logo

Casino fans are already getting excited. Of course, the casinos here won’t look quite the same as they did back in February. Today, we’re going to discuss which casinos will open, and what measures they will take to protect staff and patrons.

Let’s get into it!

Louisiana is Slowly Beginning to Open Back Up

There was a brief time when Louisiana appeared to have one of the biggest clusters of Covid-19 cases in the country. The state didn’t lock down before the Mardi Gras celebration, leading to a huge number of new cases. Since that time, Louisiana has been under lockdown.

All casinos in this state were shut down almost immediately after infections began appearing inside the L’Auberge Casino. Initially, it was unclear how long these gambling venues would be closed for. Governor Edwards made it clear that the state would remain closed down until infection rates became under control.

Casino companies with property in Louisiana began complaining about the current conditions. Everyone understands that reopening the casinos here is difficult. Unless something changed, however, many of these properties may be forced to permanently shut down.

Things are now starting to change. There are a little over 34,000 cases around the entire state. Rates of infection have dropped over the past month. Now, Louisiana is entering into phase two of reopening and some casinos are preparing to open their doors.

It’s an exciting moment for many people. Casino companies are working hard to ensure these casinos are opened up in the safest way possible. Eldorado Resorts has just announced it plans to open up three of the top casinos in the state. Here’s what this company has planned.

Eldorado Resorts Plans to Reopen Three Louisiana Casinos

Eldorado Resorts is one of the biggest and most successful casino companies in the country. At the moment, it’s also one of the worst-affected gambling companies due to the global pandemic. Eldorado owns and operates casinos in many states around the country.

That includes several in Louisiana. Eldorado Resorts has been one of the most proactive companies trying to allow casinos to start operating again. It has presented several different plans to state leaders.

Not long ago, the Louisiana Gaming Control Board gave this company the green light to open some of its gambling venues. The commission announced that casinos must limit occupancy to 25% of what it was a few months ago. Eldorado has now confirmed that it will open three of its major gaming venues inside the state.

Anthony Carano, president and CEO of Eldorado Resorts, commented on the new plans to the media this week.

“As we resume operations at our properties, the health and safety of our team members and guests is our No. 1 priority,” he said. “We have been working very hard over the last two months to prepare for the reopening of our casinos and we look forward to providing the outstanding service and hospitality experiences Eldorado is known for in a safe manner.”

Today, this company will reopen the Isle of Capri Lake Charles Casino, Belle of Baton Rouge Casino, and the Eldorado Shreveport. Many expect these venues to draw large crowds once their doors are opened. Hope is that revenue figures begin to increase for all of the casino operators here.

It’s an interesting time for Eldorado Resorts. This company continues to work on its massive deal with Caesars Entertainment.

Eldorado-Caesars Merger is Still Underway

It’s not entirely uncommon for major casino companies to merge. We’ve seen this happen on several occasions over the past few decades. No merger is as big as the one currently underway between Eldorado Resorts and Caesars Entertainment.

Back in June of 2019, these two companies announced they were merging. Eldorado paid an incredible $17 billion to acquire Caesars. Obviously, a deal of this magnitude takes a long time to complete.

Both of these companies need to gain approval from various state gaming commissions. Several states have already approved this deal. Unfortunately, the pandemic has significantly slowed down the progress of this deal.

That doesn’t mean things have completely stopped. In April, Eldorado announced it was selling two of its major casinos to help pay for the cost of this merger. That includes one of its Louisiana casinos.

Caesars Entertainment has also sold several major casinos to help move this deal along. Based on the way things are going, the deal will conclude before the end of 2020. We’re in an unprecedented time, however, and no one really knows how the land-based casino industry will fare over the next 12 months.

Are you excited to hear that Louisiana casinos are opening back up? Let us know in the comments section below.

Bally’s Atlantic City is Purchased by Twin River Holdings

All of the casinos in Atlantic City are still shut down. That doesn’t mean ownership of these venues can’t change hands, though. New reports indicate Twin River Holdings has officially purchased Bally’s Atlantic City for $25 million.

Ballys Atlantic City

It’s not a huge surprise. The previous owners are selling property to make way for a massive deal. Today, we’re going to look at the details of this major casino sale.

Let’s get into it!

Eldorado Resorts and Caesars Entertainment Continue Merger Plans

As most are well aware of, Eldorado Resorts decided to purchase Caesars Entertainment back in June of 2019 for an incredible $17 billion. It was the largest merger between two casino companies in history. Of course, a deal of this magnitude takes time to complete.

Before these companies can join, they must be given the green light from regulatory bodies around the US. That’s exactly what’s happening right now. Both companies are working to gain government approval to push the deal forward.

Early this year, three major state gambling commissions approved this deal. For a time, it looked like this merger would be approved before the end of the year. Unfortunately, things have slowed down over the past few weeks.

The spread of the coronavirus has shut down the entire US casino industry. As a result, many major casino companies are now losing millions of dollars every single month. This has taken a toll on both Eldorado Resorts and Caesars Entertainment.

These companies are now doing everything they can to continue their plans. Caesars is working to sell properties to gain additional revenue and appease state gambling commissions. New reports claim Caesars just sold one of its biggest and most profitable gambling venues.

Caesars Entertainment Officially Sells Bally’s Atlantic City

Atlantic City is now home to many world-class gambling venues. Prior to the global pandemic, this New Jersey city was earning an incredible amount of revenue from its gambling industry. That’s now changed and all the casinos here are now closed to the public.

Many of the biggest casino companies in the country now operate gambling venues in Atlantic City. This includes Caesars Entertainment. Last week, however, news surfaced that Caesars had officially sold Bally’s Atlantic City to Twin River Holdings.

This is a major deal for Twin River, which paid $25 million for this gambling venue. 2020 has been a big year for this company, which recently acquired three new casino-resorts in Colorado. Most analysts claim this is the biggest casino acquisition for this company to date.

Soo Kim, chairman of the company’s board of directors, commented on this new deal to the media this week.

“This is a great deal for Twin River, and diversifies our business across eight states,” Kim said. “It reaffirms our commitment to employees, customers and the communities in which we operate that Twin River will be stronger than ever.”

Interestingly, Caesar’s will retain certain parts of this venue. That includes the casino’s sportsbook. Hope is that the sale of this casino allows the New Jersey gambling commission to approve the merger between Caesars and Eldorado Resorts.

New Jersey is Still Weeks Away From Reopening

The new coronavirus has taken a serious toll on the entire US economy. One of the hardest-hit industries is the land-based casino industry. As we mentioned earlier, all casinos across the country are closed to the public.

Places like Atlantic City are being hit particularly hard. Officials here have continued to ask Governor Phil Murphy for a timetable on when gambling venues will be allowed to open again. It seems this is unlikely to happen for at least the next few weeks.

New Jersey has one of the highest Covid-19 death rates in the country. Obviously, things will not be able to become normal here overnight. Governor Murphy recently spoke about the situation to the media and claims it may be some time before the state opens again.

“I think the best understanding of the data right now is that we are still a number of weeks away,” he said. “We’re not of the woods yet. The mandate to stay at home and stay away from each other is still very much in effect until we can break the back of this curve.”

How exactly this will affect casinos like Bally’s Atlantic City is still unknown. The federal government is working on ways to help casino operators. Unfortunately, even major payouts may not be enough for some of these venues to remain open.

It’s a very unusual time for the US gambling industry. Stay tuned for more Atlantic City casino news over the next few weeks!

The Merger Between Eldorado and Caesars is Still Taking Place

The merger between Eldorado and Caesars is the biggest in the history of US casino companies. Obviously, a deal of this magnitude takes months to complete. Fortunately, this company merge is still taking place, despite the intense regulations around the country.Two Hands Shaking

Hope is that this deal is able to take place before the end of the year. Today, we’re going to take a look at the details of this merger. We’ll also talk about some of the strategies these companies are taking to move their plans forward.

Let’s get into it!

Breaking Down the New Eldorado and Caesars Deal

Eldorado Resorts and Caesars Entertainment are two of the biggest casino companies in the world. Over the past decade, revenue at Caesars has slowed and company officials announced they were interested in making a change. This seemed to interest officials within Eldorado Resorts, who have been looking to expand.

In June of last year, news broke that Eldorado and Caesars had agreed to merge. Eldorado was paying an incredible $17 billion, making it the largest casino company sale in history. Under the terms of this agreement, Eldorado Resorts is taking control of all the Caesars properties.

These companies immediately began preparing for this merge. In July, Eldorado Resorts announced it was selling two of its major properties. This decision was made to help finance the larger acquisition of Caesars.

Over time, state gambling commissions began approving this new deal. In January, commissions in Louisiana, Pennsylvania, and Illinois all approved the merger between Eldorado and Caesars. The next month, New Jersey’s commission began taking a closer look at the details of this new deal.

Over the past six weeks, things have begun to change dramatically around the United States. The entire land-based casino industry in the country is shut down. Fortunately, the two companies involved in this massive merger are still taking steps to move the deal forward.

Here’s an Update on the Merger Between Eldorado and Caesars

Many states have now given the green light for this deal to go forward. Until it can be officially completed, though, several more government bodies need to give approval. Some felt this would be extremely difficult given the fact that the world is dealing with a global pandemic.

The current situation isn’t stopping company officials from scrapping their plans, though. This week, heads of Eldorado Resorts announced they were selling two major properties in order to help pay for the cost of the Caesars acquisition. The Eldorado Shreveport Resort in Louisiana and the MontBleu Resort Casino & Spa in Lake Tahoe are being sold to Twin River Worldwide Holdings for a combined $155 million.

Tom Reeg, CEO of Eldorado Resorts, commented on this deal to the media this week.

“The agreement to divest Shreveport and MontBleu to Twin River Worldwide Holdings is consistent with our continued focus on closing the Caesars transaction in the first half of 2020,” he said. 

Caesars announced that it was selling its Bally’s Atlantic City property for $25 million. It’s not a huge surprise to see casinos in Atlantic City being sold. The SEC has voiced its concerns that the merger between Eldorado and Caesars would result in a monopoly-like situation in this city.

The sale of this property should put that idea to rest. It’s clear that these companies are focused on gaining government approval as fast as possible. Many analysts predict more of these small property sales over the next few months.

Las Vegas Mayor Wants the City to Reopen

The land-based gambling industry has been one of the worst-affected by this pandemic. All of the casinos around the United States are completely shut down. Even the top government officials cannot say when these gambling venues will be able to open again.

This has obviously had a devastating impact on the city of Las Vegas. Tourism here has completely stopped. Many casinos here are now losing millions of dollars every single day and some claim they cannot survive much longer under the current situation.

Las Vegas Mayor Carolyn Goodman is now demanding a change. She’s actively calling for businesses in the city to open back up. This goes directly against what most health experts in the country are advising.

It’s an extremely difficult time for this city. Las Vegas relies heavily on its tourism and gambling industries. Without these industries operating, the city is facing an extremely difficult economic situation.

Governor Sisolak is refusing to open the state back up. He wants to ensure that infection rates are dropping before major venues are able to open. Only time will tell how long this process takes.

The merger between Eldorado and Caesars is still carrying on. It now seems possible that this deal is completed before the end of the year.

Caesars Entertainment Signs New Deal With MLS

Caesars Entertainment is one of the biggest casino companies in the country. Over the past couple of months, Caesars has been going through some massive changes. This week, news broke that the company officially secured a deal with an MLS team.Caesars Entertainment

It comes at an interesting time. This company is currently working to merge with Eldorado Resorts. Today, we’re going to discuss this upcoming merger, and look at how this new MLS deal will help the company in the future.

Let’s get into it!

2019 Was An Interesting Year for Caesars Entertainment

Caesars Entertainment has always been one of the biggest casino operators in the country. It was founded back in 1937 and grew extremely quickly. Over the past few decades, the company’s revenue began to fluctuate.

In 2014, rumors began to circulate about Caesars struggling to turn a profit. The next year, the company’s casino unit officially filed for Chapter 11 bankruptcy. That doesn’t mean it was closing down, though.

This company remains one of the largest casino operators in the country. Many analysts predicted that Caesars Entertainment would eventually merge with another major US casino company. In 2019, these predictions turned out to be correct.

In March of 2019, news broke that Caesars was merging with Eldorado Resorts. Of course, a deal of this magnitude takes a long time to complete. Eldorado Resorts is one of the most powerful gaming companies in the world.

Over the past few years, Caesars has begun to sell some of its major properties. This is all to help prepare its upcoming merge. This week, reports came out that the company signed a new deal with one of the country’s top sports leagues.

Caesars Entertainment is Now a Sponsor of an MLS Team

It’s not uncommon for casino companies to sign sponsorship deals with sports teams. In fact, many of the top US casino companies have inked deals with sports teams overseas as a way to break into a new country. Caesars just announced that it’s signed a sponsorship deal with D.C. United.

Moving forward, members of this popular MLS team will wear Caesars’ logo on their jerseys. It’s the first time that an MLS team has ever signed a deal with a US casino operator. It comes as part of the company’s strategy to become a leader in sports.

Jason Levien, Co-Chairman of D.C. United, commented on this new deal to the media this week.

“Partnering with Caesars provides us with a great opportunity to realize the dream of Audi Field being a year-round hub of entertainment and activity and is another strong indication that global brands continue to see value in partnering with our organization,” he said. 

This deal is also allowing Caesars to appear throughout the team’s stadium. The logo will likely be featured in Audi Field. Bar, restaurant, and several new entertainment concepts are also being considered.

More States Approve the Caesars-Eldorado Merger

The merger between Eldorado Resorts and Caesars Entertainment is the biggest ever between two casino companies. It’s costing $17.3 billion for these companies to combine. The deal cannot be finalized until the country’s various state gambling commissions give their approval.

Fortunately, many states around the country have already given this deal the green light. It’s fantastic news. Now, the deal has fallen into the hands of New Jersey’s gaming commission.

State commissions want to ensure that this merger does not create a monopoly. Once merged, these companies will control a huge number of casinos in different states. This includes several major gaming venues in Atlantic City.

Officials within Atlantic City are currently studying the impact of this new deal. There’s a chance that several properties will need to be sold here in order to comply with the commission’s regulations. Eventually, the FTC will also need to approve this deal.

Caesars Entertainment is still an extremely powerful gambling corporation. Hopefully, this new sponsorship deal with the MLS helps to bring even more exposure to this company.

Stay tuned for updates on this situation over the next few months!

Caesars-Eldorado Merger Deal Pending New Jersey’s Approval

Ariel View of Atlantic CityThe $17.3 billion merger between Caesars Entertainment Corp. and Eldorado Resorts Inc. is still dependent on approval from 14 state regulatory agencies and the Federal Trade Commission, including New Jersey.

So far, four state regulatory bodies have approved of the merger, including Pennsylvania, Louisiana, Iowa and Illinois.

The merger will grant Eldorado Resorts control of close to 60 casinos in the country. While no explicit deadline for New Jersey regulators to make an approval decision on the merger decision has been set, gaming operators expect a deal finalization within the first half of 2020.

One reason New Jersey could be delaying approval are concerns they’ve cited over the economic concentration the deal would cause in the state, and Atlantic City turning into something of a monopoly.

Dan Heneghan, former public information officer for the Casino Control Commission (now retired) and former casino beat reporter for The Press of Atlantic City, said state gaming regulators are “concerned about economic concentration in the casino industry for many of the same reasons that the (federal) Justice Department is concerned about monopolies in industry in general.”

“If you have a monopoly, or something close to a monopoly, there’s always the concern that the big player can effectively set prices,” Heneghan said.

Back in September, Caesars Entertainment and Eldorado Resorts presented a joint petition to NJ regulators, and stated their intentions of providing an economic analysis that would disprove their merger would cause an undue economic concentration.

New Jersey and Atlantic City Play Major Role in Deal

Since the newly formed company will control nearly half of the resort’s casinos (four out of the nine total casinos), New Jersey and AC will play a major role in the deal. Under its current designations, the company merger will employ 40% of casino industry workers in Atlantic City and represent almost 37% of their total gaming revenue.

Currently, Caesars Entertainment has three outstanding deed restrictions on former casino properties. Those include the former Atlantic Club Casino Hotel, the Claridge Hotel and the Showboat Hotel Atlantic City. These restrictions disallow them to operate as gaming parlors and adds some stress to the current deal.

The Attorney General’s Office, who advised that New Jersey gaming regulators would also be retaining an expert, said this in an email:

“As required by law, the Division is responsible for ensuring the honesty, integrity and financial stability of casino licensees. Part of this process is analyzing the economic impact of casino acquisitions such as the Eldorado / Caesars merger. As part of this process the Division has retained an economic expert to assist with the review of this merger.”

About the Caesars-Eldorado Merger Deal

Eldorado Resorts $17.3 billion acquisition of Caesars Entertainment is slated to become the world’s largest casino operator in terms of gaming assets. To acquire 51% of Caesars, Eldorado will pay $7.2 billion in cash and 77 million shares of stock, as well as taking on Caesars’ existing debt.

Upon regulatory approval, Caesars will merge with Eldorado subsidiary Colt Merger Sub Inc and a new, wholly owned Eldorado subsidiary will exist and operate under the Caesars name.

Three More States Approve Eldorado Resorts’ New Merger

Back in June, officials within Eldorado Resorts announced that the company had agreed to formally merge with Caesars Entertainment. It’s the largest merger between casino companies in history. This week, three more states officially approved Eldorado Resorts’ new merger.Eldorado Resorts Logo

The process to combine these two companies was expected to take a long time. A huge number of states need to give permission for the two operators to join forces. Today, we’re going to look at what still needs to happen for these companies to merge.

Let’s get started!

Why Did Eldorado Resorts Purchase Caesars Entertainment?

Eldorado Resorts is one of the biggest and most successful casino companies in the world right now. It was founded in 1973 in Reno, Nevada. Over the years, it’s expanded across the country. Eldorado Resorts now operates 23 properties across 11 different states.

Since 2013, this company has worked hard to acquire new properties. First, it agreed to merge with MTR Gaming Group. In 2015, the company purchased Circus Circus Reno and a 50% stake in Silver Legacy from MGM Resorts International for $73 million.

In 2017, Eldorado acquired the Isle of Capri Casinos for an astounding $1.7 billion. Over the next few years, this Reno-based casino operator continued to purchase properties. By March of 2019, rumors began to surface that Eldorado was going to purchase Caesars Entertainment.

The timing of this deal made sense. Caesars Entertainment had fallen into debt and was looking for a way to turn things around. By June, Eldorado revealed that it was purchasing the fellow Nevada-based company for an astounding $17 billion. The goal of this deal is to help Eldorado expand its presence across the country.

A deal of this magnitude can’t be completed in a day, though. A huge number of state gambling commissions need to ensure that this will not create a monopoly-like situation. Fortunately, this process of approval is moving along smoothly.

Three States Approve Eldorado Resorts’ New Merger

Ever since June, Eldorado Resorts has been seeking approval from various state gambling commissions. It’s already received approval from many major states yet there’s still a long way to go before this merger is finalized. This week, three additional states announced they have approved Eldorado Resorts’ new merger.

The commissions in Louisiana, Pennsylvania, and Illinois all gave this deal the green light. The Louisiana approval is particularly exciting, as the company will soon operate several new gambling venues in the state. There are still some important states that are holding out, though.

Approval in New Jersey will be extremely important. Officials within Atlantic City have raised concerns over the impact that this deal will have on other casinos in the city. With that being said, it seems unlikely that this state’s gambling commission will choose not to approve the new merger.

Nevada is another important state that has yet to formally approve this deal. Based on the way things are moving, the merger between Eldorado Resorts and Caesars Entertainment will be completed by mid-2020. The Federal Trade Commission still needs to agree to it, as well.

Eldorado Resorts’ new merger will create the single largest casino company in the United States. It will be extremely interesting to watch this deal progress over the next couple of months.

Major Las Vegas Property Sales Continue

There have certainly been some major changes to the US casino industry lately. Of course, not every company is looking to merge with others. Several huge casino operators have instead looked at property sales as a way to generate additional revenue.

This is especially true with MGM Resorts International. The Las Vegas-based company has recently sold several of its biggest and most profitable casino-resorts in Las Vegas. The first came back in October when MGM sold both The Bellagio and Circus Circus. The sale of The Bellagio earned the company more than $4 billion, making it the biggest in Las Vegas history.

A few months later, MGM Resorts announced that it was selling the Mandalay Bay Hotel-Casino.

Not all of these sales aren’t exactly what they appear, though. MGM has chosen to lease back several properties and retains control of its operations. It’s currently paying $245 million per year to keep operating The Bellagio.

Depending on how successful Eldorado Resorts’ new merger with Caesars Entertainment is, more companies may choose to take a similar approach. For now, several casino companies are simply choosing to part with their venues as a way to earn more revenue.

There is a lot happening in the US casino industry. Stay tuned for more updates over the next few months!