The Biggest Casino Business in the US
The immense merger between Eldorado Resorts and Caesars Entertainment has formally been finalized. It took over a year and an unbelievable amount of effort. With the deal now finished, Eldorado and Caesars have created the biggest casino company in the US. This is a significant moment for the US casino industry. Most analysts are looking at how this union will affect different states moving forward.
Eldorado and Caesars Could Finally Merge
Eldorado Resorts and Caesars Entertainment announced their plan to merge back in June of 2019. Clearly, this news spread like wildfire. Eldorado then agreed to pay $17.3 billion to obtain Caesars; the most exclusive purchase in the history of casino companies.
State gaming commissions around the state also took notice. Before the two companies could merge, they need approval from all the directives they operate in. These management bodies also want to ensure the newly-merged company would not result in any cartel.
Gaining state endorsement became their first priority. Both Eldorado and Caesars were then forced to sell most of their properties to get the green light from numerous commissions. As time went, also, more commissions approved the merger.
Last month, June, the FTC finally gave it the go-ahead, as well. This was the most vital step for both companies. Only three additional commissions were needed to get the deal approved.
Firstly, Nevada approved the deal, then followed Indiana. Late last week, New Jersey’s gaming commission then finally gave it a thumbs up, as well. With that final endorsement, this big deal could finally conclude.
The Biggest Casino Company in the US is Formed
After more than a year, the biggest deal between Eldorado Resorts and Caesars Entertainment has been concluded. These companies are now working under one banner, making this the biggest casino company in the US.
Experts Predict More Hard Months Ahead for Other Casino Companies
The world is in an unparalleled time right now. Never before have whole economies been shut down like they have been over the past months. The US land-based casino industry has been hit hard due to the regulations that are set in place.
In most states, only Native American casinos can operate. These venues sit on independent land and don’t need to abide by state regulations. Commercial casinos, like in Las Vegas, can be closed down at a moment’s notice.
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