Delays in New Jersey: The Eldorado/Caesars Merger

Caesars Entertainment and Eldorado Resorts are some of the largest United States casino operators. They have planned on having a merger for quite a while now, but that appears to have been sidelined temporarily.

Three states remaining have to sign off on the deal: Nevada, Indiana, and New Jersey. According to the New Jersey Casino Control Commission, it looks like it will be over a month until they decide to vote on this agenda.

Why The Delay?

There is really no secret behind why the merger was delayed. The economy, as well as the world, has been in a tizzy, to say the least, but it appears to be coming back around.

Another few factors in the delay are the overall chaotic appearance of New Jersey casinos, including revenue and even political backlash. With that said, this deal has not been a priority in terms of everything else that has been going on.

When to Expect the Merger

It is not concrete yet, but you can almost get a feel that this deal will be signed as early as July. The CCC could hold an emergency meeting to get this deal done later within the month.

Alternatively, it is most likely that July will be the best time to do so. Casinos, in general, will be able to open back up to the public by then and makes for a great opportunity.

Merger Progress News

The deal with these two casinos will make this newly formed casino the largest one in the United States. It would have control over four out of nine casinos in Atlantic City.

The problem with the political backlash is that they believe that this newly formed casino would try to make the rules for the city for the way they operate. This would overrun the other casinos and make for a very dominant casino.

In an attempt at pleasing everyone, both casinos have sold some properties. Caesars has sold its Bally’s Atlantic City property to Twin River Worldwide Holdings.

This deal also included Eldorado’s Shreveport Resort and Casino in Louisiana and the MontBleu Resort Casino and Spa in Nevada.

The deal was completed in April of this year. It was an estimated sale of $155 million and made a little breathing room for the deal to look more appealing.

A Definite Yes or No to Merger

No one has made it clear whether or not Nevada or Indiana will decide on their vote. It is also a mystery with what direction they will choose, either yes or no.

There is potential for the Nevada committee to decide on this deal on either June 10 or June 25. However, the deal has not been mentioned that it would even be included on those days.

Conclusion

After months of talks of possibly signing off on this large casino merger, we still do not have everything we need. Other matters have been put in front of this issue to catch back up and to get the ball rolling again.

Both Caesars Entertainment and Eldorado Resorts have made positive strides to make this deal complete. It is ultimately at the mercy of the remaining three states to push this through.

Once the casinos can open back up, and everything starts getting back to normal, you could see this deal getting its wheels turning again at least by July. Moreso, this is a time of sitting and waiting until the regulators can add this merger talk to their agendas.


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