Eldorado Resorts clinches US$18 billion cash and stock deal for Caesars: sources
NEW YORK: U.S. casino operator Eldorado Resorts Inc has agreed to acquire Caesars Entertainment Corp in a cash and stock deal that values its peer at about US$18 billion including debt, people familiar with the matter said on Sunday.
The deal, which is expected to be announced on Monday, values Caesars at close to US$13 a share. The combined company’s ownership would be split roughly in half between Eldorado and Caesars shareholders, the sources said.
The sources asked not to be identified because the matter is confidential. Eldorado and Caesars did not immediately respond to requests for comment.
(Reporting by Greg Roumeliotis; Editing by Peter Cooney)