Eldorado and Caesars shareholders approve $17.3bn merger deal
Shareholders in Eldorado Resorts and Caesars Entertainment Corporation have voted to approve the proposed merger of the two operators.
In June, it was revealed that Eldorado will acquire all of the outstanding shares in Caesars for a total consideration of around $17.3bn (£13.3bn/€15.6bn).
The agreement was subject to stockholder approval at both operators, with holders of over 99% of Eldorado shares, representing approximately 87% of Eldorado’s outstanding common stock, voting in favour of the merger.
Holders of over 99% of the Caesars shares, representing around 76% of Caesars’ common stock, also voted to approve the proposed agreement.
Stockholders at Eldorado and Caesars also approved various other measures in relation to the deal, including the reincorporation of Eldorado from Nevada to Delaware, subject to consummation of the merger.