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US: Caesars expected to sell Vegas strip properties after Eldorado merger

 |  August 6, 2019

Eldorado Resorts is strongly considering the sale of a Las Vegas Strip casino after finishing its acquisition of Caesars Entertainment next year, the Wall Street Journal reported.

Reno, Nevada-based Eldorado and Caesars Entertainment have stated the US$8.58 billion acquisition deal will close in the first half of 2020. On Tuesday, August 6, Eldorado Chief Executive Thomas Reeg told analysts that he expects to complete the acquisition closer to the beginning of that window than the end, adding that any sale of a Strip property won’t be announced before then. Mr. Reeg didn’t say which casinos are being considered. Caesars has a big presence on the Strip, including Caesars Palace, Harrah’s, and Planet Hollywood, among others.

Eldorado Resorts operates casinos in Reno, Atlantic City, New Jersey, and smaller markets in Colorado, Mississippi, Missouri, Louisiana, and other states. The combined entity would be the largest casino company in the US, operating under the Caesars name with about 60 casinos in 16 states.

Full Content: Wall Street Journal

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