Federal regulators clear way for Eldorado merger | TahoeDailyTribune.com

Federal regulators clear way for Eldorado merger

Kurt Hildebrand / khildebrand@recordcourier.com

STATELINE, Nev. — Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Eldorado Resorts’ $17.3 billion agreement to acquire Caesars Entertainment likely would violate federal antitrust law.

According to the complaint, which was first announced in June, the proposed acquisition would likely harm competition for casino services in the South Lake Tahoe area of Nevada and the Bossier City-Shreveport area of Louisiana.

The final order requires the parties to divest casino-related assets to Twin River Worldwide Holdings, Inc. in both markets. Independent of its proposed acquisition of Caesars, Eldorado sold its Isle of Capri casino in Kansas City, Mo., on July 2, obviating the need for the Commission to take any further action to protect competition in that area.

The Commission vote to approve the final order was 3-1-1.  Commissioner Rebecca Kelly Slaughter did not participate and Commissioner Rohit Chopra voted no.

Under the merger, Harvey’s and Harrahs at Stateline will go to the new company. MontBleu Resort Casino and Spa is on property leased from Edgewood Companies, headquartered in Stateline.

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