![]() ![]() Once the transaction closes, the new company will keep the Caesars name to “capitalize on the value of the iconic global brand.” It will trade on the Nasdaq. If the deal is completed, the new company could help better position itself against its largest rivals, including MGM Resorts and Wynn ResortsĮldorado doesn’t own any properties in Las Vegas, but it has 26 casinos in 12 states, including the Tropicana in Atlantic City and its flagship location in Reno, Nevada. The proposed company would have a large footprint across the United States, with approximately 60 casinos and resorts spanning 16 states. (CZR)’ stock jumped 16% in premarket trading, while Eldorado’s stock slumped nearly 7%. ![]() (CZR) for $12.75 a share, which is almost 30% above its Friday close of $9.99 per share. Part of the company filed for bankruptcy in 2015, and it holds nearly $9 billion in debt - more than the company’s roughly $7 billion market value. It also owns the Harrah’s brand, which has nearly two dozen resorts and casinos in the United States.īut it has been in and out of financial trouble over the past decade. It owns some of Las Vegas’ most recognizable properties including Caesars Palace and the Flamingo. ShutterstockĬaesars is already one of the largest casino businesses in the world. Caesars Palace in Las Vegas might soon have a new owner.
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