Search

Eldorado Resorts to buy Caesars Entertainment in $17.3B deal - Fox Business

U.S. casino operator Eldorado Resorts has agreed to buy Caesars Entertainment in a $17.3 billion cash-and-stock deal, including debt, the companies said on Monday.

Continue Reading Below

Eldorado will acquire all of the outstanding shares of Caesars for a total value of $12.75 per share, consisting of $8.40 per share in cash consideration and 0.0899 shares of Eldorado common stock for each Caesars share of common stock.

MORE FROM FOXBUSINESS.COM

Eldorado and Caesars shareholders will hold approximately 51 percent and 49 percent of the combined company's outstanding shares, respectively.

TickerSecurityLastChange%Chg
CZRCAESARS ENTERTAINMENT CORP.9.99-0.06-0.60%
ERIELDORADO RESORTS INC51.22-1.50-2.85%

"Eldorado's combination with Caesars will create the largest owner and operator of U.S. gaming assets and is a strategically, financially and operationally compelling opportunity that brings immediate and long-term value to stakeholders of both companies," said Tom Reeg, Chief Executive Officer of Eldorado. "Together, we will have an extremely powerful suite of iconic gaming and entertainment brands, as well as valuable strategic alliances with industry leaders in sports betting and online gaming."

CLICK HERE TO GET THE FOX BUSINESS APP

"This announcement is the culmination of a thorough evaluation by the Caesars Board of Directors," said Jim Hunt, Chairman of Caesars. "The Board unanimously concluded that the combination of these two companies creating an even stronger entity is a decision for our shareholders' consideration and vote for immediate and ongoing value."

The combined company will retain the Caesars name.

Let's block ads! (Why?)


https://www.foxbusiness.com/markets/eldorado-resorts-to-buy-caesars-entertainment-in-17-3b-deal

2019-06-24 10:35:18Z
CBMiX2h0dHBzOi8vd3d3LmZveGJ1c2luZXNzLmNvbS9tYXJrZXRzL2VsZG9yYWRvLXJlc29ydHMtdG8tYnV5LWNhZXNhcnMtZW50ZXJ0YWlubWVudC1pbi0xNy0zYi1kZWFs0gFjaHR0cHM6Ly93d3cuZm94YnVzaW5lc3MuY29tL21hcmtldHMvZWxkb3JhZG8tcmVzb3J0cy10by1idXktY2Flc2Fycy1lbnRlcnRhaW5tZW50LWluLTE3LTNiLWRlYWwuYW1w

Bagikan Berita Ini

0 Response to "Eldorado Resorts to buy Caesars Entertainment in $17.3B deal - Fox Business"

Post a Comment

Powered by Blogger.