Eldorado Posts Profit, Targets Q1 Close For Caesars Acquisition

Thomas Reeg, chief executive of Eldorado Resorts, told analysts on Wednesday that he expects the company to complete its $17.3bn acquisition of Caesars Entertainment within the first three months of next year.

“We’re still targeting a first half of 2020 closing date,” Reeg said during the company’s third-quarter earnings conference call.

“If I were to place a bet today, I’d be betting on a first-quarter close versus a second-quarter close,” Reeg told analysts. “But we’re going through regulatory and antitrust in real time.”

Reeg’s comments came after Eldorado reported third-quarter net revenue of $663.2m, an increase of 36.1 percent on a GAAP basis and decrease of 4.1 percent on a same-store basis.

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