'Eldorado's combination with Caesars will create the largest owner and operator of U.S. 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 ongoing value.' Once the transaction is complete, the new company will keep the Caesars name to capitalize on the global brand.Įldorado rationalized the merger by saying the new company will have an 'unrivalled domestic footprint of 60 owned, operated, and managed casino-resorts in 16 states.'Ĭeasars Chair, Jim Hunt said, 'The announcement is the culmination of a thorough evaluation by the Caesars Board of Directors. The total value of the merger is $17.3 billion.Įldorado's shareholders will hold approximately 51 per cent of the combined company's outstanding shares, and Caesars shareholders will hold 49 per cent.

Caesars shareholders will be offered 'a consideration election mechanism that is subject to proration pursuant to the definitive merger agreement.'

In a press release issued Monday morning, Eldorado said will acquire all outstanding shares of Caesars for a total value of $12.75 per share and will assume Caesars outstanding net debt. has confirmed it will merge with Caesars Entertainment Corporation, which operates Caesars Windsor.