Eldorado Resorts Inc. completed its $17.3 billion acquisition of Caesars Entertainment Corp. after overcoming a series of hurdles, including the worldwide pandemic, to become as the largest casino owner in the world.
The New Jersey Casino Control Commission finally approved the merger after two days of hearings with Eldorado executives. An antitrust analyst assured the commission that the deal wi[...] Read more » Eldorado and Caesars complete Merger Deal to become Largest Casino Owner in the World
Joined: May '09
Location: Croatia
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you can imagine how big is this business when they will spend 17,3 billion on this transaction!so they will be largest casino owner in the world!you can see how big they were,when they payed in cash 7,2 billion dollars!just sick number in todays world!
Joined: Jan '14
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Interesting situation regarding Indiana regulators who forced Eldorado & Caesars to sell three of five properties in Hoosier State. He did this as if they were owners of other people's buildings. Another detail is these billions that make this casino number 1 in the world.
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In an agreement with New Jersey regulators, the officials of Eldorado assured regulators that the company would not close its three Atlantic City casinos for at least five years and it will spend $400 million improving facilities over the next three years, and reinvest 5% of annual revenue in the years after that.
Joined: Jan '14
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These contracts have many stipulations... because there it is not easy at all, when you negotiate. Moreover, when the state puts its tail over your business, you have to do as they do. However, both sides are satisfied because was nice for both.
Joined: Dec '14
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WoW , $17.3 billion for the acquisition , that's crazy money for sure ,they spend a lot to make this merge real , and this decision and agreement was approved by the authorities , so now there is this casjono giant , the new Ceasars company . They have many casinos , they are for sure a huge player in the market . I want to believe this is good not only for the players of these Caesar's casinos , but for their employeed as well . Good luck for their businesses in this new era
Joined: Jan '14
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Crazy money, but recoverable in a few years, because this industry brings a lot of money. The richest casino owner has over $ 30 billion in wealth. I consider that one who bought has a lot to gain, especially now that he no longer has this rival in competition,
Joined: May '09
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I know that every year more and more money come in this industry and that money have bigger value,then its had 10 or 15 years ago,but still when you read about something like this,its crazy how people know that even if they spend this money,they will back it very soon and will earn much more!
Joined: Jan '14
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Last year or two, we had similar news that a casino bought for many billions. This industry is very successful, because it knows how to make a profit. Owners who sold, probably chose to enjoy with peace and vacation for the rest of their lives.
Joined: Dec '14
Location: Greece
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For sure they will get their money back from this investment . I agree , casinos are a business of billions of dollars , and their owners have billions of dollars as well , as their wealth . Thye will get this money back , as profit from daily businesses in all of these casinos that now this company controls . Although ,with the lockdown and the restricitons , it might take somemore time tto get things on track like before .
Joined: May '09
Location: Croatia
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as we can see its same as for online casinos in last years,now we have this kind of transacations for big casinos company,where you can play live!companies want to be bigger and they by also big companies,not just small one's!its crazy what kind of money is in this industry and what amount will be in future!
Joined: Jan '14
Location: Romania
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They will certainly have a worse time. Covid 19 is guilty of restrictions but also because of fact that in online environment there are a lot of casinos who steal their customers. When you can't play directly in salons, then people play at home or even from nature on the phone.
Joined: Dec '14
Location: Greece
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yes dulevu, We have seen many such acquisitions , smaller companies bought by bigger or two big united so as to create a bigger company , with less expenses and losses , so as to survive or have bigger profits than before . Not sth new in any business . Online casinos and poker rooms also have done it in the past . They got the approval of the gaming commission , so there is no problem with the competition overally . Hopefully they will keep all the employees or even hire new ones .
Joined: May '09
Location: Croatia
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if not in this year,in next we will have again some new "deal" on online casino company,slot company or casino place like this one!corona will change business and somebody will change thinking about it and to let go!we will see who is next on this market!
Joined: Jan '14
Location: Romania
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People have a lot of money and when they have nothing to do with them buy their competition for make even more. This is usually because some companies swallow others, because it offers an interesting proposal or rivals in business want to sell.
Joined: Dec '14
Location: Greece
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Ifit's for the interest of all sides and parts , for their profits , their future expansion plans , the reduce of costs , the more opportunities to have to survive competition , a merger will takae place . Also if one of the businesses is successfull and the other as well , but also sold in very good price , for one reason or another . They have better chance to stand profitable together . I believe this deal will be benefitial for everyone , not the first not the last we've seen or will see for sure , live or online
Joined: May '09
Location: Croatia
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when somebody sell something like this or some big company,that doesnt mean that he need money,he maybe just see that is good time to sell and get great money for it or he had enough of that business and want to start something better or just to enjoy in life and that money!its same when somebody sell football or basketball club!
Joined: Dec '14
Location: Greece
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Yes dule vu , sometimes it's for the interest of both parts , regarding the growth of their businesses and the seeking of more profits and less expensives . But sometimes , only one part wants to make its business greater , by expanding and getting a gret slice of the pie , a bigger part of the market share. The other part might want to sell because of many annual losses so they cannotcontinue alone in the business/market , or maybe the owner finds it a great opportunity to sell now that his business is at its peak and earn a tone of money It's a free market to seek more profits and power
Joined: Jan '14
Location: Romania
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Where are fewer casinos but stronger, it is much better because there are many prizes and in the small ones they cannot be as big. Important thing is to play for a substantial profit and let's not think about who is boss here.
Joined: Dec '14
Location: Greece
Age: 41 (M)
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Yes calicul , this sure benefits the players-customers , either this is made online or in other casinos in all over the world. The biggest a poker room or a casino it is , the biggest games with the highest guarantees it will offer , the biggest jackpots and the greatest rewards , prizes , opportunities to make a tone of money will be given to their customers . For real , emerges to a bigger business entity can favour customers a lot , as long as it doesn't kill competition mostly orcompletely ofcourse , that would not be good .
Joined: Jan '14
Location: Romania
Age: 45 (M)
Posts: 13856
There is a live and online competition between casinos and it is a very serious one. I respect that, but there must be a calculated number, like this on the world market. When there are too many, profit for players is much lower.
