Indiana Approves Eldorado Acquisition of Caesars Entertainment

By Adia Randall | July 13, 2020
Eldorado
  • Indiana Gaming Commission has approved of the merger of Eldorado Resorts and Caesars Entertainment.
  • The deal requires Eldorado to sell three of its Indiana casinos.
  • They are now waiting for the New Jersey Casino Control Commission and the Indiana Horse Racing Commission to finalize the deal.

INDIANAPOLIS - Plans for the acquiring of Caesars Entertainment Corp by Eldorado Resorts Inc. were approved by the Indiana Gaming Commission on Friday.

The commission reached a unanimous vote approving the pending $17.3 billion merge of the two companies which will produce the largest gaming company in the country.

The requirements for this transaction include selling three Indiana gambling facilities before the start of the new year, and maintaining current employment levels at the remaining properties for three years after the merger is complete.

According to the Associated Press, Thomas Reeg the Eldorado chief executive believes the Indiana casinos owned in Evansville, Elizabeth, and Hammond are the ones most likely to be sold.

After the divestment of at least two of the facilities, Caesars Entertainment will control 40% or less of legal gambling revenue in the state of Indiana.

Earlier in the week, the Caesars Entertainment and Eldorado Resorts’ deal was approved by the Nevada Gaming Control Board and the Nevada Gaming Commission.

Now the deal is just waiting for clearance from the Indiana Horse Racing Commission and New Jersey Casino Control Commission.

The deal has been pending since being announced in June 2019 and initially, officials projected the deal to be closed at the beginning of 2020. Due to the coronavirus pandemic, there were many delays to the finalizing of this merger.

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