Eldorado Resorts Inc. has completed a US$17.3 billion buyout of Caesars Entertainment Corp. and will take the iconic company's name going forward as the largest casino owner in the world.
This June 23, 2019, file photo shows Caesars Palace in Las Vegas. LAS VEGAS -- A Nevada company that started in 1973 with a single hotel-casino in Reno announced Monday it has completed a $17.3 billion buyout of Caesars Entertainment Corp. and will take the iconic company's name going forward as the largest casino owner in the world.
Reeg promised to welcome the combined company's tens of thousands of employees and to create value for stakeholders using "strategic initiatives that will position the company for continued growth." "We're excited as a company and a family to lead such an iconic gambling company with 80,000 team members all over the country," Carano said.
He said that the company was "in a great financial position as Caesars going forward from here" and will reduce debt. Properties outside the U.S. will likely be sold, he said. In Las Vegas, the combined company now owns Caesars Palace, Paris Las Vegas, Planet Hollywood, Harrah's Las Vegas, the Flamingo, Linq Hotel, Cromwell, Bally's, and the Rio off the Strip. It will be one of the largest employers in Nevada.
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