U.S. Federal Trade Commission clears Eldorado and Caesars merger

Caesars Entertainment announced last week that the Federal Trade Commission (FTC) has accepted a proposed consent order, which concludes the FTC's Hart-Scott-Rodino review of the company's pending merger with Eldorado Resorts. The FTC's acceptance of the consent order satisfies all required antitrust clearances for the merger.

The completion of the merger remains subject to the satisfaction of other closing conditions, including receipt of all consents and approvals from the Nevada Gaming Control Board, Nevada Gaming Commission, New Jersey Casino Control Commission, Indiana Gaming Commission and Indiana Horse Racing Commission.

"We are pleased that the FTC's approval of our planned Merger with Eldorado paves the way for securing the remaining consents and approvals from regulators in Indiana, Nevada and New Jersey.   All of us at Caesars are committed to completing the Merger, which is expected to create the largest U.S. gaming company," said Tony Rodio, CEO of Caesars Entertainment.

Last week, Eldorado Resorts announced its plans to issue new shares, sell some Las Vegas real estate and take other steps to strengthen its finances ahead of the $17 billion merger.