If the reports are correct, Eldorado will apparently need to pay a premium price to acquire Caesars.<\/p>\n
Reeg has been working to find a way to reduce $500 million in Caesars operating expenses. A source told the Post <\/i>in May, “My hunch is he’s not going to get there.”<\/p>\n
Caesars’ operating costs have been inflated due to the company’s emergency from bankruptcy.<\/p>\n
\nCFO Eric Hession told investors during a recent call, “We’re focused on reducing corporate costs. They are currently elevated due to our IT transformation and sports betting businesses, and we expect to show improvement later in the year from the current run rate.”<\/p>\n<\/blockquote>\n
Eldorado Resorts has a market value of around $4 billion, and debt of roughly $3 billion. Meanwhile, Caesars is valued at $6 billion, but holds long-term debt of $9 billion.<\/p>\n
However, Caesars owns numerous casinos located on the coveted Las Vegas Strip. Billionaire Phil Ruffin said recently that Strip assets are “irreplaceable.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Regional casino operator Eldorado Resorts is inching closer to merging with gaming industry giant Caesars Entertainment. The Wall Street Journal says a deal could be announced as early as this month. The two casino operators are said to be working on a cash and stock deal that appeases both sides \u2013 specifically billionaire corporate raider […]<\/p>\n","protected":false},"author":25,"featured_media":106472,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,32093],"tags":[],"acf":[],"yoast_head":"\n
Eldorado Resorts Nearing Acquisition of Caesars Entertainment<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n