As Caesars Deal Lingers, Buyer Faces $2.3 Million a Day in Fees

Eldorado Resorts Inc. must start paying Caesars Entertainment Corp. almost $2.3 million a day in so-called ticking fees after failing to meet a deadline to complete its takeover of the casino giant.

When the megadeal was announced last June, Eldorado, a smaller Reno, Nevada-based casino operator, agreed to pay Caesars 10 cents a share per month if the transaction didn’t close after nine months. That deadline passed on Wednesday. A pro-rated share of the penalty comes due each day, according to a regulatory filing.

Eldorado has targeted a second-quarter close for the transaction. Like all casino mergers, it requires ...