Eldorado Resorts has completed its $17.3 billion acquisition of Caesars Entertainment, creating the largest casino and entertainment company in the U.S.
As previously announced, the consolidated company-which now owns and operates more than 55 casino properties around the world-will keep the Caesars name moving forward.
"We are pleased to have completed this transformative merger, thus making us the premier leader in gaming and hospitality. We look forward to executing on the numerous opportunities ahead to create value for all stakeholders," said Tom Reeg, CEO of Caesars Entertainment, Inc., in a statement accompanying Monday's announcement.
"Additionally, we are pleased to welcome all of our team members to the combined company and we look forward to implementing all of the strategic initiatives that will position the company for continued growth," he added.
Caesars has a presence in as many as 16 U.S. states, including eight resorts located along the Las Vegas Strip: Caesars Palace, Paris Las Vegas, Planet Hollywood, Harrah's Las Vegas, the Flamingo, The LINQ, The Cromwell and Bally's. The latter is scheduled to reopen on Thursday.
However, executives have indicated that they may sell at least one of the Las Vegas properties. According to the Associated Press, Caesars plans to sell several properties due to antitrust concerns.
The combined company is also expected to "further solidify" the Caesars Rewards loyalty program, which currently has more than 60 million members.
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