U.S. Casino Operators Eldorado Resorts Inc And Caesars Entertainment Corp Are In The Early Stages Of Exploring A Merger
Caesars declined to comment, while Eldorado did not immediately respond to a request for comment. The combination of Caesars and Eldorado would create a more formidable competitor to larger casino industry players, such as Las Vegas Sands Corp, Wynn Resorts Ltd and MGM Resorts International.
Caesars, whose casinos include the Harrah’s and Horseshoe brands, emerged from bankruptcy protection in 2017, after failing to cope with some $25 billion in debt. It had 53 properties in 14 U.S. states and five countries outside the United States, including the UK, as of the end of December.
Last year, Caesars rejected a merger approach by Tilman Fertitta, the billionaire owner of Golden Nugget casinos. That deal would essentially have been structured as an acquisition by Caesars given its larger size. Fertitta has not submitted any new offer for Caesars this year, according to the sources.