Iowa gaming commission approves Caesars-Eldorado merger

by Administrator

The Iowa Racing and Gaming Commission has approved Eldorado Resorts' pending buyout of Caesars Entertainment.

Eldorado said in a press release that the state commission gave its approval during a meeting Tuesday.

Iowa joins the commissions in Louisiana, Illinois and Pennsylvania, which cleared the $17 billion deal last month.

The Reno-based Eldorado owns the Isle Casino-Hotels in Bettendorf and Waterloo, Iowa, while Las Vegas-based Caesars owns Harrah's Council Bluffs and Horseshoe Council Bluffs just east of Omaha, Nebraska.

Executives expect the buyout to close by the end of June, with the combined company keeping the Caesars name.