US | Eldorado Resorts executives investigated for stock trading

Eldorado Resorts Inc.’s most senior executives, including Chief Executive Officer Tom Reeg, were subpoenaed by the U.S. Securities and Exchange Commission over their trading in the shares of another company.
Chairman Gary Carano, President Anthony Carano and board member James Hawkins also received subpoenas. The investigation could impact their board positions when Eldorado completes its $8.7 billion merger with Caesars Entertainment Corp., the company said in a regulatory filing Tuesday.
The investigation involves their trading in the shares of a company where Hawkins had served as a board member. The New York Post reported Wednesday that the company was medical-device maker IRadimed Corp.
Eldorado is in the process of acquiring Caesars in one of the largest casino-industry mergers in years.
Last week, Caesars Entertainment Corp. said it wouldn’t pursue a license for a casino in Japan and will focus instead on its current business plan, including the Eldorado Resorts merger.
Caesars management made the decision out of sensitivity to the Japanese government and business partners, who must make decisions this year to advance the casino process, Chief Executive Officer Tony Rodio said in a statement.
The largest owner of casinos in the U.S., Caesars also missed an opportunity to get a license in Macau in the years following the territory’s 1999 handover. DB/Bloomberg