RENO, Nev. and LAS VEGAS — On Monday, Caesars Entertainment, Inc.—formerly known as Eldorado Resorts, Inc.—announced that it completed its acquisition of Caesars Entertainment Corporation. The transaction creates the largest casino and entertainment company in the United States.
A year ago, Eldorado Resorts and Caesars first announced that they had entered into a definitive merger agreement to combine the two companies’ national operating platforms, brands, and strategic industry alliances. The combined company owns and operates more than 55 casino properties worldwide, including a portfolio of eight casino hotel properties on the Las Vegas Strip. Additionally, Caesars owns or operates casinos in 16 states across the United States, including Nevada, Colorado, Missouri, Iowa, Florida, Mississippi, Louisiana, Ohio, Illinois, Indiana, New Jersey, Pennsylvania, Arizona, North Carolina, California, and Maryland.
“We are pleased to have completed this transformative merger, thus making us the premier leader in gaming and hospitality. We look forward to executing on the numerous opportunities ahead to create value for all stakeholders,” said Tom Reeg, CEO of Caesars Entertainment, Inc. “Additionally, we are pleased to welcome all of our team members to the combined company, and we look forward to implementing all of the strategic initiatives that will position the company for continued growth.”
J.P. Morgan, Credit Suisse, and Macquarie Capital served as financial advisors to Eldorado. Milbank LLP and Latham & Watkins LLP served as Eldorado’s legal counsel. PJT Partners LP served as financial advisor to CEC. Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to CEC.