New Jersey Casino Control Commission has approved Eldorado Resorts’ application for a permanent casino license. Eldorado Resorts is a gaming and hospitality company with strong ties to the gaming industry that acquired the Tropicana casino in Atlantic City eight months ago.
The company already operates in 12 states via casino hotels. The company has properties in Florida, Missouri, Colorado, New Jersey, Iowa, Indiana, Mississippi, Nevada, West Virginia, Illinois, Ohio and Louisiana.
The company is rumored to be about to announce a merger with Caesars Entertainment Corporation. Media outlets are reporting that the two companies are that much closer to combing via a cash-and-stock deal.
The two companies announced merger talks had begun back in March and now it seems that the companies are getting closer to completing the deal. When Eldorado Resorts purchased Tropicana Entertainment they received the property from Carl Icahn. A 28.5% stake of Caesars had been amassed by Icahn which was absorbed by Eldorado Resorts. Analysts feel that the stake factor could play a large role in the deal between Eldorado and Caesars.
