Eldorado to buy Caesars for $17.2bn
Deal could benefit William Hill through access to sports betting licences in more states and reduced competition
Eldorado Resorts has agreed to buy Caesars Entertainment for a total consideration of $17.2bn, the two companies have announced
The deal values Caesars at approximately $12.75 a share, equivalent to a 30% premium on its market price as of Friday.
Eldorado will pay for the deal in cash and shares and take on around $9bn in Caesars debt.
The combined company’s ownership would be split with 51% to Eldorado shareholders and 49% to Caesars’.
Upon completion of the transaction the combined company will retain the Caesars name in order to “capitalise on the value of the iconic global brand”.
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