Eldorado Resorts will buy Caesars in a cash-and-stock deal valued at $17.3 billion, creating one of the largest U.S. gaming operators.
The acquisition puts about 60 casinos and resorts in 16 states under a single name, creating one of the biggest gambling and entertainment ventures in the United States.
The Eldorado-Caesars deal is targeted to close in the first half of next year if approved by gaming regulators and shareholders. The combined company will retain the Caesars name.
Eldorado and Caesars shareholders will hold approximately 51 percent and 49 percent of the combined company’s outstanding shares, respectively.
Added to the deal, VICI properties will acquire the real estate assets of the Caesars-owned Harrah’s Resort Atlantic City, Harrah’s Laughlin Hotel & Casino, and Harrah’s New Orleans Hotel & Casino for approximately $1.8 billion.