Officials with Eldorado Resorts, Inc. announced that the Federal Trade Commission (FTC) has accepted a proposed consent order, which concludes the FTC’s Hart-Scott-Rodino review of Eldorado’s pending merger with Caesars Entertainment Corporation.
They say the FTC’s acceptance of the consent order satisfies all required antitrust clearances for the merger.
Officials say the consummation of the merger remains subject to the satisfaction of other closing conditions, including receipt of all consents and approvals from the Nevada Gaming Control Board, Nevada Gaming Commission, New Jersey Casino Control Commission, Indiana Gaming Commission and Indiana Horse Racing Commission.
“We are delighted to announce the FTC’s approval of our planned Merger with Caesars, which is expected to create the largest owner and operator of U.S. gaming assets. We look forward to completing the Merger, subject to receipt of the remaining consents and approvals from regulators in Nevada, New Jersey and Indiana,” said Tom Reeg, Chief Executive Officer of Eldorado Resorts.
Caesars Entertainment Corporation also sent out a press release regarding the merger.
In it, officials say Eldorado has entered into a consent agreement with the FTC, which concludes the FTC’s Hart Scott Rodino review of the Merger and satisfies all required antitrust clearances for the merger.
They say under the terms of the consent order, Eldorado has agreed to divest the Eldorado Resort Casino in Shreveport, Louisiana, and the MontBleu Casino Resort & Spa in Lake Tahoe, Nevada, to certain subsidiaries of Twin River Worldwide Holdings, Inc., pursuant to Eldorado’s and Twin River’s previously announced equity purchase agreement among themselves and certain of their affiliates, dated as of April 24, 2020.
Officials say The consummation of the Merger remains subject to the satisfaction of other closing conditions, including receipt of all consents and approvals from the Nevada Gaming Control Board, the Nevada Gaming Commission, the New Jersey Casino Control Commission, the Indiana Gaming Commission and the Indiana Horse Racing Commission.
