Eldorado Resorts Wins Crucial Approvals For Caesars Entertainment Acquisition

Eldorado Resorts (NASDAQ: ERI) is now much closer to merging with its peer Caesars Entertainment (NASDAQ: CZR) following the approval of two related Nevada regulators. On Wednesday, the state's Gaming Control Board and its Gaming Commission granted approval for the merger, which will see Eldorado effectively acquire Caesars in a deal originally valued at around $17.3 billion, including debt assumption. Eldorado and Caesars agreed that the former company would pay a total of $12.75 per Caesars share in a mix of cash and Eldorado common stock.