The U.S. Federal Trade Fee is rolling the dice on the proposed $17.three billion Eldorado Resorts-Caesars Leisure offer.
The federal governing administration mentioned today that the merger can go by means of if Eldorado divests selected property. The concern was reduced levels of competition.
According to the FTC’s proposed consent get, Eldorado will have to divest the MontBleu Vacation resort Casino and Spa in the South Lake Tahoe, Nevada, region and the Eldorado On line casino Resort in the Bossier Metropolis-Shreveport, Louisiana, area to Twin River Globally Holdings.
Also on the table is Eldorado’s Isle of Capri Casino in Kansas Metropolis, Missouri, which the organization currently is offering. Caesars owns Harrah’s Kansas Metropolis Hotel and Casino there. The FTC reported that under the proposed settlement, it can call for Eldorado to divest the Isle of Capri if the sale isn’t concluded in just 60 days of when the Caesars mega-offer closes.
The proposed Eldorado acquisition of Caesars was initially introduced final June.
“We are delighted to announce the FTC’s acceptance of our prepared merger with Caesars, which is envisioned to generate the greatest owner and operator of U.S. gaming assets. We search forward to completing the merger, subject matter to receipt of the remaining consents and approvals from regulators in Nevada, New Jersey, and Indiana,” Eldorado CEO Tom Reeg claimed in a composed statement.