- U.S. casino operators Eldorado Resorts Inc and Caesars Entertainment Corp are in the early stages of exploring a merger, people familiar with the matter said on Sunday.
The deal talks come after Caesars agreed this month to give billionaire investor Carl Icahn, who has been pushing the company to sell itself, three board seats to his representatives and a say on the selection of its next chief executive officer. Eldorado has yet to make a binding offer for Caesars, and there is no certainty any bid will materialize or that a deal will be successfully negotiated, the sources added, asking not to be identified because the matter is confidential.
“The universe of buyers is limited, and Eldorado is best suited to extract full value from Caesars’ assets in our view,” Roch Capital Partners analysts wrote in a March 6 research note.
GregRoumeliotis Nobody cares. Thx.
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