Eldorado Resorts clinches US$18 billion cash and stock deal for Caesars: sources

News June 24, 2019 No Comments

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.

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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)

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