Caesars and Eldorado will need to sell three casinos to get the green light for their planned merger tells the Regulator
The Indiana Gaming Commission will force the gambling companies to sell three casinos to get approval for a merger that will create one of the world’s largest gaming companies.
Indiana regulators said they were concerned over the “economic concentration” of the state’s casino market, as between them the two companies own five of the state’s 13 casinos. Eldorado’s acquisition of Caesars Entertainment would hand it 60 per cent of the state’s casino revenue.
Eldorado owns Tropicana casino in Evansville, while Caesars owns Harrah’s Hoosier Park Racing & Casino, Horseshoe Hammond, Caesars Southern Indiana and Indiana Grand Racing & Casino.
According to the Associated Press, although regulators have no specified which venues should be sold, Eldorado CEO Thomas Reeg said Eldorado might sell the Tropicana casino and Caesars might sell Southern Indiana and Horseshoe Hammond.
Shareholders from Eldorado Resorts and Caesars Entertainment on November 15 overwhelmingly voted in favour of the gaming companies’ $ 17.3 billion merger, setting the stage for the approval process from roughly 18 state regulatory agencies and the Federal Trade Commission.
More details on the topic are HERE.
The Indiana Gaming Commission also warned the two companies that they would not be permitted to reduce staff at the remaining casinos for three years.
The news comes days after Nevada approved the merger. The deal now needs the approval of Indiana and New Jersey regulators to go ahead.