The Nevada Gaming Commission approved the planned takeover of Caesars Entertainment Corp. by Eldorado Resorts Inc. – a big step forward for the multibillion-dollar casino merger.
The deal, announced in June of last year, would make Eldorado the largest operator of casinos in the U.S., including marquee resorts such as Caesars Palace and Paris in Las Vegas. It’s a giant leap for the company, which until recently was a small, family-run casino business headquartered in Reno, Nevada.
The Federal Trade Commission gave its blessing to the deal last month. New Jersey and Indiana still need to complete their reviews.
In a presentation to Nevada’s Gaming Control Board Wednesday, Eldorado Chief Executive Officer Tom Reeg said results at the company’s properties had exceeded expectations since reopening after the coronavirus-related shutdown.
“The reopenings have gone quite well,” he said. “Demand has been there.”
Group bookings starting in September look “extremely strong,” Reeg said, adding he expects a recovery for Las Vegas in the fourth quarter.
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