A key governmental approval for the pending merger of Caesars Entertainment and Reno-based Eldorado Resorts was announced today.
The Federal Trade Commission, according to a news release, has accepted a consent order that “satisfies all required antitrust clearances” for the proposed $17.3 billion merger, which was announced in 2019.
The completion of the merger still needs approval from other regulatory bodies, including the Nevada Gaming Control Board, Nevada Gaming Commission and New Jersey Casino Control Commission.
“All of us at Caesars are committed to completing the merger, which is expected to create the largest U.S. gaming company,” Caesars CEO Tony Rodio said in a statement.
According to terms of the merger agreement, Eldorado is will be the acquiring firm, though the Caesars name is expected to be retained. Eldorado CEO Tom Reeg is expected to be the CEO of the merged entity.