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After purchasing Caesars, Eldorado will become the largest casino operator

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After purchasing Caesars, Eldorado will become the largest casino operator
June 24
13:00 2019

Caesars Entertainment will be purchased by Eldorado Resorts, the largest casino and hotel operator in the USA. The amount of the transaction will be 17.3 billion US dollars. The debts of the company are already priced in.

After closing this deal, the largest company in the gaming field of the world will appear in America. It will own 60 casino hotels located in 16 US states.

In a joint statement, the companies said that the cost of one share in the purchase will be $ 12.75. This is 30% more than the cost of securities at the last trading on Friday. They will pay in stock and real cash for the transaction. Caesars owners will receive 49% of the new company and will be able to get 5 seats on the Board of Directors, consisting of 11 seats in total.

Prior to this, the media informed that the largest shareholder of Caesars Carl Icahn had insisted on the sale.

In the last 12 months, Eldorado shares have shown an increase of about 20%. The securities of Caesars, on the contrary, have fallen by more than 10% over the same period.

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