are you member? register / login Login
03 July
584

Eldorado and Caesars One Step Closer to Merging

July 03, 2019
Article rating
1 Star2 Stars3 Stars4 Stars5 Stars

Nevada-based Eldorado Resorts may soon acquire American operator Caesars Entertainment, reported The New York Post. 

Previously, Caesars contemplated a $7.6 billion merger with British bookmaker William Hill, with talks coming to a halt because of price.

Eldorado and Caesars have been in lengthy negotiations since March, and are said to be amending the cash-and-stock deal. The former wants to put forward a proposal that will be financially appealing to Caesars.

On June 6, The Post reported that Eldorado approached Caesars with a cash-and-stock proposal, valuing each Caesars’ share (CZR) at around $10.50. At the end of the same day, CZR were being traded at $9.13.  

Caesars’ biggest stakeholder Carl Icahn declined the offer, considering it to be “underwhelming.”

Following the rejection of this proposal, the two companies are thought to be amending the details and preparing a new offer. The agreement might be made public soon, and the announcement may hit the news next week.

You can be interested in (view all)

ALL NEWS

Casino review (view all)

ALL REVIEWS