Caesars shareholders prepare for Eldorado merger

Caesars shareholders prepare for Eldorado merger

Caesars Entertainment Corp. shareholders have one week to vote on how they want to receive an expected windfall from the anticipated closing of the merger with Eldorado Resorts Ltd.

Caesars stockholders can receive cash or common stock of Eldorado in exchange for each outstanding share once Eldorado acquires the company.

The election deadline is 2 p.m. Pacific Time July 16, and may be altered or extended if the deal’s closing date is delayed.

The announcement comes one day after the $17.3 billion deal was approved by Nevada gaming regulators. Eldorado shares were at $41.11 Thursday morning, up 3.42 percent.

In November, shareholders from Caesars Entertainment Corp. and Eldorado Resorts Inc. voted overwhelmingly in favor of moving forward with the $17.3 billion acquisition.

The deal has yet to receive final approvals in Indiana and New Jersey.

The Indiana Gaming Commission meets on Friday, the Indiana Horse Racing Commission on Monday and the New Jersey Casino Control Commission on Wednesday — one day before Caesars shareholders’ deadline — to discuss the deal.

Contact Bailey Schulz at [email protected] or 702-383-0233. Follow @bailey_schulz on Twitter.

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