The merger between Eldorado Resorts and Caesars Entertainment just secured approval from another state regulator.
The Indiana Gaming Commission is the latest gaming body to approve the pending US$7.3 billion merger to create the largest gaming company in the United States.
“The Company received approval from the Indiana Gaming Commission in connection with its pending acquisition of Caesars Entertainment Corporation … subject to applicable conditions,” Eldorado announced on Friday, July 10.
With the Indiana Gaming Commission giving its blessing to the deal, only approvals from the Indiana Horse Racing Commission and the New Jersey Casino Control Commission remain. Eldorado and Caesars recently secured approval from the Nevada Gaming Control Board as well as the Nevada Gaming Commission earlier this week.
The merger between both gaming companies was first announced in June 2019, with Eldorado CEO Tom Reeg aiming to finalize the deal by the first half of 2020. The advent of the COVID-19 pandemic and its impact on the gaming and tourism economy, however, has led to delays in closing the deal. Initial agreements to sell several Eldorado properties in preparation for the merger, for example, ended up falling through as the impact of the novel coronavirus fueled uncertainty throughout the US economy.
Full Content: Reno Gazette Journal