Caesars Gets FTC Approval To Proceed with Eldorado Resorts $17. 3 Billion Merger

The Federal Trade Commission (FTC) finally approved the $17.3 billion merger of Caesars Entertainment and Eldorado Resorts.

The merger brings five of Indiana’s 13 state-regulated casinos under the umbrella of one owner.

Recently, Caesars Entertainment announced it received FTC approval for a consent order for the company to merge with Eldorado Resorts, Inc. All federal antitrust clearances have been satisfied for the merger.

The FTC agreement requires EldoradoResorts to sell their casino in South Lake Tahoe, Nevada, as well as one in Bossier City-Shreveport, Louisiana.

Finally, Eldorado must also follow through on the sale of one casino in Kansas City, Missouri.

Merger Receives FTC Approval, Still Needs Approval in Indiana

However, the merger still needs approval by the Indiana Gaming Commission and the Indiana Horse Racing Commission. It also needs the final approval of the New Jersey Casino Control Commission, the Nevada Gaming Control Board and the Nevada Gaming Commission and before the merger can be finalized.

July 10 is the date scheduled for the Indiana Gaming Commission to review, and approve, the proposed merger. July 13, is the date set for the Indiana Horse Racing Commission to review and approve the merger.

“We’re pleased that the FTC approved our planned merger with Eldorado Resorts. This paves the way for receiving the rest of the approvals and consents from regulators in Nevada, Indiana, and New Jersey,” commented Tony Rodio, CEO of Caesars Entertainment.

“Everyone at Caesars is committed to finalizing the merger, which will create the largest U.S. gaming company.”

The combined Caesars-Eldorado company, which will carry the Caesars branding, will encompass around 60 casinos in 16 states.

In Indiana, Caesars will add Eldorado’s Tropicana Casino in Evansville. Caesars already owns the Indiana Grand and Harrah’s Hoosier Park racinos near Indianapolis and the Hammond Horseshoe and Horseshoe Southern Indiana casinos.

According to the Indiana Gaming Commission, those five casinos generated close to 60% of the $591 million in state gambling taxes paid during the 2019 budget year.

Indiana law only allows a single casino company to own a total of six gaming properties in the state.

In neighboring Illinois, Caesars owns Harrah’s Joliet and Harrah’s Metropolis casinos, while Eldorado Resorts owns the Grand Victoria Casino in Elgin.

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Caesars’ Casino Properties in the Hoosier State

Ameristar Casino, East Chicago

Date established: 1999

Name: Harrah’s Casino

Location: East Chicago

Table games: 72

Slot machines: 1,809

Employees: 1,735

Casino “win”: $206,739,712

 

Current information: 2019

Name: Ameristar Casino

Location: East Chicago

Table games: 79

Slot machines: 1,748

Employees: 1,242

Casino “win”: $226,733,852

 

Information: Indiana Gaming Commission annual reports. 1999 data covers the calendar year, 2019 data covers the fiscal year. “Casino win” is the remaining revenue after paying winning bets.

 

Horseshoe Casino, Hammond

Date established: 1999

Name: Empress Casino

Location: Hammond

Table games: 64

Slot machines: 1,660

Employees: 1,959

Casino “win”: $229,134,089

 

Current information: 2019

Name: Horseshoe Casino

Location: Hammond

Table games: 150

Slot machines: 2,173

Employees: 1,835

Casino “win”: $386,704,714

 

Information: Indiana Gaming Commission annual reports. 1999 data covers the calendar year, 2019 data covers the fiscal year. “Casino win” is the remaining revenue after paying winning bets.

 

Blue Chip Casino, Michigan City

Date established: 1999

Name: Blue Chip Casino

Location: Michigan City

Table games: 57

Slot machines: 1,336

Employees: 1,779

Casino “win”: $160,605,827

 

Current information: 2019

Name: Blue Chip Casino

Location: Michigan City

Table games: 48

Slot machines: 1,669

Employees: 970

Casino “win”: $153,530,104

 

Information: Indiana Gaming Commission annual reports. 1999 data covers the calendar year, 2019 data covers the fiscal year. “Casino win” is the remaining revenue after paying winning bets.

 

Majestic Star Casino, Gary

Date established: 1999

Name: Majestic Star

Location: Gary

Table games: 57

Slot machines: 1,410

Employees: 1,058

Casino “win”: $117,248,008

 

Current information: 2019

Name: Majestic Star

Location: Gary

Table games: 49

Slot machines: 790

Employees: 763

Casino “win”: $89,120,898

 

Information: Indiana Gaming Commission annual reports. 1999 data covers the calendar year, 2019 data covers the fiscal year. “Casino win” is the remaining revenue after paying winning bets.

 

Majestic Star Casino II, Gary

Date established: 1999

Name: Trump Casino

Location: GaryTable games: 51

Slot machines: 1,249

Employees: 1,261

Casino “win”: $138,866,099

 

Current information: 2019

Name: Majestic Star Casino II

Location: Gary

Table games: 14

Slot machines: 830

Employees: 201

Casino “win”: $61,374,238

 

Information: Indiana Gaming Commission annual reports. 1999 data covers the calendar year, 2019 data covers the fiscal year. “Casino win” is the remaining revenue after paying winning bets.

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