Federal Trade Commission clears way for $17.3 billion Eldorado-Caesars merger
Eldorado Resorts announced Friday that the Federal Trade Commission has accepted a proposed consent order, which concludes the FTC’s review of Eldorado’s pending merger with Caesars Entertainment Corp. The acceptance of the consent order satisfies all required antitrust clearances for the merger.
As part of the merger, Eldorado is selling the MontBleu casino in Stateline. Caesars owns both Harveys and Harrah’s at Stateline.
The consummation of the merger remains subject to the satisfaction of other closing conditions, including receipt of all consents and approvals from the Nevada Gaming Control Board, Nevada Gaming Commission, New Jersey Casino Control Commission, Indiana Gaming Commission and Indiana Horse Racing Commission.
“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,” said Eldorado Resorts Chief Executive Officer Tom Reeg.
The Federal Trade Commission is requiring Eldorado Resorts to sell the MontBleu as part of a $17. 3 billion agreement to acquire Caesars Entertainment.
The MontBleu will be sold to Twin River Worldwide Holdings as part of the merger.