Eldorado Resorts Inc., the US based casino operator, has agreed to merge with Caesars Entertainment Corp through a $17.3 billion cash and stock deal.
The deal, which is expected to be announced soon, values Caesars at close to $13 a share. The combined company’s ownership would be split roughly between Eldorado and Caesars shareholders.
An Eldorado spokesman said the company did not comment on rumours or speculation. Caesars did not immediately respond to requests for comment.
The combination of the two companies would create a serious competitor to larger casino industry players, such as Las Vegas Sands Corp, Wynn Resorts Ltd and MGM Resorts International.
