Eldorado Resorts is about to acquire fellow casino operator Caesars Entertainment
- According to a report by the Wall Street Journal, Eldorado Resorts (NASDAQ:ERI) is about to acquire Caesars Entertainment (NASDAQ:CZR).
- However, the deal is not yet sealed as there are other bidders who are still interested in buying Caesars Entertainment.
Sources familiar with the matter said that Eldorado is the current front-runner, which means that there is a high likelihood that the firm will be the eventual winner.
If the two casino operators sign a deal, Eldorado would become the majority shareholder and manager of the combined entity.
The two firms are working on a cash and stock deal, which is almost finalised and could be announced later this month.