Key Takeaways
- The total value of the deal comes close to $18 billion.
- The new combined company will retain the Caesars name.
- The deal is expected to close during the first half of 2020.
Eldorado Resorts, Inc. announced on Monday that it has reached a deal to merge with Caesars Entertainment Corporation, parent company of the World Series of Poker and its online poker arm WSOP.com.
Eldorado has agreed to put up more than $8.5 billion in cash and stock in addition to taking on nearly $9 billion in Caesars debt to bring the total value of the deal close to $18 billion.
The new combined company “will retain the Caesars name to capitalize on the value of the iconic global brand and its legacy of leadership in the global gaming industry,” according to a statement released by Eldorado announcing the merger.
The deal is expected to close during the first half of 2020.
