Las Vegas Sun

March 28, 2024

Shareholders greenlight $17.3B Eldorado acquisition of Caesars

Casino Exteriors

Steve Marcus

An exterior view of Caesars Palace on the Las Vegas Strip Dec. 26, 2017.

At separate meetings Friday, Eldorado Resorts and Caesars Entertainment Corp. shareholders approved a merger of the gaming companies, which is expected to be complete next year.

According to a joint news release, a Caesars stockholders meeting took place in Las Vegas on Friday, while Eldorado shareholders met in Reno.

Assuming the $17.3 billion deal receives the necessary regulatory approval, Eldorado is expected to acquire Caesars sometime in the first half of 2020.

Shareholders in possession of over 99% of each company’s common stock voted in favor of the merger, according to the news release.

Per the agreement, which was announced in June, Eldorado is expected to pay $7.2 billion and 77 million shares of its stock to acquire about 51 percent of the Las Vegas-based company.