![]() On Friday, the stock had closed at just under $10. It rescheduled the session for July 2 to give shareholders time to learn about the deal.įor Caesars stockholders, Reno, Nev.-based Eldorado is pricing their shares at $12.75 each. With an agreement finally reached, Caesars Entertainment abruptly announced on Monday that it will "adjourn, without conducting any business, its 2019 Annual Meeting of Shareholders" - a meeting that had been slated to begin Monday morning in Las Vegas. The merger comes just two months after Caesars installed a new CEO - Anthony Rodio - whom Icahn backed, as Reuters reported. ![]() ![]() For months, Caesars shareholder Carl Icahn has been urging the casino company to work out a purchase. The merger comes after "a lengthy courtship and months of speculation" about the merger, reports industry news site. "Together, we will have an extremely powerful suite of iconic gaming and entertainment brands," Reeg said of the deal, "as well as valuable strategic alliances with industry leaders in sports betting and online gaming." It will now also take control of a portfolio that includes Caesars Palace, Harrah's and Bally's, giving it a total of some 60 properties in 16 states. Eldorado operates 26 gambling properties in the U.S., extending from Nevada eastward to states such as Colorado, Missouri, Louisiana and New Jersey.
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