The idea that Caesars might be seriously exploring the option of offering its hand in a marriage of casino operators continues to make headlines. Carl Icahn, a billionaire investor who seems to be purchasing a larger piece of the company on a weekly basis, fully supports a merger and there is now talk that the casino company could be negotiating a deal with Eldorado Resorts. If the two companies decide to partner up, it would result in the creation of a $9-billion gambling empire that could potentially rule the U.S. casino market.
According to an exclusive report by Reuters, unnamed sources have indicated that the two companies are currently holding talks on a potential merger. Those sources state that Caesars has already turned over certain financial data to Eldorado in order to allow the latter to conduct due diligence ahead of any deal.
Eldorado hasn’t yet made a binding offer and there is no guarantee that it will. However, if Caesars has, in fact, presented information to the company, it is a strong indication that the gambling powerhouse is taking the idea of a merger more seriously than ever.
Eldorado owns and operates 26 properties in 12 states. It recently acquired Tropicana Entertainment in a deal worth $1.85 billion, expanding its portfolio into Indiana, Louisiana, Mississippi, Missouri, New Jersey and Nevada. Tropicana was previously owned by Icahn Enterprises, a company founded by Carl Icahn.