Indiana Gaming Commission approves $17B casino merger
INDIANAPOLIS (Inside INdiana Business) — The proposed $17 billion merger between Eldorado Resorts Inc. (Nasdaq: ERI) and Caesars Entertainment Corp. (Nasdaq: CZR) has received approval from the Indiana Gaming Commission.
Once completed, the merger would bring five Hoosier casinos under the same umbrella.
Eldorado owns the Tropicana Evansville casino. Caesars owns the Horseshoe casinos in Hammond and Harrison County, as well as Indiana Grand Racing & Casino in Shelbyville and Hoosier Park Racing & Casino in Anderson.
Once the deal is complete, the combined company will continue to operate under the Caesars name.
The approval comes less than two weeks after the Federal Trade Commission accepted a proposed consent order for the merger, which satisfied all antitrust clearances.
The deal earlier this week also received approval from the Nevada Gaming Commission and the Nevada Gaming Control Board. The companies say they still require approval from the New Jersey Gaming Control Commission.
Eldorado and Caesars did not provide an estimated time frame for the merger to close.