Eldorado Completes Caesars Deal, Becoming New Casino Powerhouse

Eldorado Resorts Inc. completed its $17 billion acquisition of Caesars Entertainment Corp., navigating a series of hurdles, including the global pandemic, to create a new powerhouse in the casino industry.

The merger, first announced in June of last year, capped a flurry of dealmaking for the once-small casino company. But the transaction faced obstacles, including several states where the new company’s market share exceeded the wishes of regulators, and the coronavirus, which shuttered casinos in the U.S. for nearly three months this year.

Eldorado, led by Chief Executive Officer Tom Reeg, had to scramble to find buyers for the some ...