Pennsylvania regulator OKs Eldorado, Caesars deal
Eldorado Resorts received approval to complete its acquisition of Caesars Entertainment Corp. from another state regulatory body.
On Wednesday, the Reno-based casino operator announced that the Pennsylvania Gaming Control Board had approved its plan to merge with Caesars for $17.3 billion. Eldorado has been given the OK from six other regulatory bodies over the last two months.
Eldorado and Caesars will need to gain approval from regulatory bodies from all 17 states in which the merged company will operate, including Nevada. It also will need approval from the Federal Trade Commission.
The deal is expected to close in the first half of 2020.
Eldorado shares were up 1.3 percent Wednesday morning to $66.38, while Caesars shares were up 0.6 percent to $14.34.
Contact Bailey Schulz at bschulz@reviewjournal.com or 702-383-0233. Follow @bailey_schulz on Twitter.