Eldorado acquisition receives approval from Missouri Gaming Commission
Eldorado Resorts has cleared a hurdle in its acquisition of Caesars Entertainment by gaining necessary approval from the Missouri Gaming Commission (MGC).
Missouri is one of 17 state regulatory bodies that must approve the acquisition.
Caesars and Eldorado shareholders approved the $17.3bn merger last month.
Eldorado operates five casinos in Missouri, but is in the middle of divesting most of its Show Me State portfolio.
Earlier this week, the MGC approved Century Casino’s acquisition of the Isle Casino Cape
Girardeau and Lady Luck Caruthersville from Eldorado.
Eldorado is also selling the Isle of Capri Casino Kansas City to Twin Rivers Worldwide
Holdings.
The company will hold on to the Isle of Capri Casino Boonville and the
Lumière Place in St. Louis.
Eldorado will take on operations of Caesars-owned Harrah’s North Kansas City once the
merger is complete next year.
Missouri could become an even more lucrative state if legislatures legalize sports gambling.
A bipartisan state Special Interim Committee on Gaming released a report this week backing sports gambling legislation.
State lawmakers are expected to take up the issue in a January legislative session.
The wait is on to see which states next rule on the acquisition. Eldorado expects the deal to be finalized in the first half of 2020.
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