Caesars Entertainment has entered into an agreement to merge with Eldorado Resorts, creating a massive leader in gaming and entertainment. For Caesars Rewards members, this will mean access to approximately 60 properties across 16 states.
Eldorado Resorts is set to buy Caesars Entertainment in a $17.3 billion cash and stock deal, which includes Ceasars' debt. Eldorado will be 51% owner in the merger. To acquire the Caesars name and properties, Eldorado will pay $7.2 billion in cash and approx 77 million stock shares.
Though the announcement today will begin a long journey as the two companies merge, they have announced that the Caesars Rewards program will remain intact and be an important part of the combined company. There will be no change to your Caesars Rewards Tier Status, your Rewards Credit balance or your existing reservations. There is no change to how you manage your Caesars Rewards account or book reservations.
You will continue to earn Tier Credits and Reward Credits for all of your activity as well as continue receiving offers and comps from your favorite Caesars resorts and casinos.
They are not announcing any changes to their network of properties at this time. In the future, with the close of the transaction we can expect to benefit from the expanded footprint across the U.S., providing guests with greater choice in where to stay and play. This deal may also increase purchasing leverages and could even result in slightly lower prices in food and rooms.
Update: $8.58 billion cash-and-stock merger of Eldorado Resorts Inc. and Caesars Entertainment Corp. closed Monday 7/20/2020, forging the largest casino operator in the U.S..
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