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Report: Eldorado Resorts, Caesars in early talks on potential merger


Report: Eldorado Resorts, Caesars in early talks on potential merger

U.S.-based casino and gaming companies Eldorado Resorts Inc. and Caesars Entertainment Corp. are in early talks about a potential merger, Reuters reported, citing people familiar with the matter.

The merger would enable the two casino operators to better compete with industry giants including Las Vegas Sands Corp., MGM Resorts International and Wynn Resorts Ltd., according to the report.

The merger talks come just after Caesars reached a deal with Carl Icahn, allowing him to name three new board directors and a role in the selection of its next CEO. Caesars announced the deal March 1.

Icahn, who has been pushing the company to consider a sale, disclosed a 9.78% stake in the company in February.

Eldorado has started the due diligence process on the potential transaction after Caesars released some limited confidential financial information to Eldorado, Reuters reported.

The gaming company has not made any binding offer for Caesars. There is no certainty that the deal will be successfully negotiated, the report said.

The company previously rejected a merger proposal from Golden Nugget Inc. owner Tilman Fertitta.

Caesars declined to comment, while Eldorado did not immediately respond to Reuters' request for comment.