Eldorado To Acquire Caesars - Quick Facts

(RTTNews) - Eldorado Resorts, Inc. (ERI) has agreed to acquire Caesars Entertainment Corp. (CZR) for total consideration of approximately $17.3 billion which consists of $7.2 billion in cash, approximately 77 million Eldorado common shares and the assumption of Caesars outstanding net debt. Eldorado will acquire Caesars for a total value of $12.75 per share, consisting of $8.40 per share in cash and 0.0899 shares of Eldorado common stock for each Caesars share of common stock. Eldorado projects to achieve approximately $500 million of synergies in the first year following closing.

Also, VICI Properties, Inc. (VICI) has agreed to acquire the real estate associated with Harrah's Resort Atlantic City, Harrah's Laughlin Hotel & Casino, and Harrah's New Orleans Hotel & Casino for approximately $1.8 billion. An amendment of existing leases and right of first refusals, which will result in a combination of these existing leases into a new Las Vegas master lease and an increase in the annual rent payment on the Las Vegas master lease, will result in proceeds of approximately $1.4 billion.