Caesars Entertainment Corp. (NASDAQ:CZR) is nearing a deal to combine with casino operator Eldorado Resorts Inc. (NASDAQ:ERI), according to a Wall Street Journal report Thursday night. The deal could be announced this month.
Caesars is one of the world's largest gambling companies and has had a number of offers, including Golden Nugget, Tilman Fertitta's casino company, and Boyd Gaming Corp.
Activist investor Carl Icahn recently rejected a takeover offer from Eldorado Resorts as too low — although the negotiations are continuing, according to the New York Post.
Caesars operating unit filed for bankruptcy in 2015 and has an estimated market value of roughly $6 billion and around $9 billion in debt.
Caesars shares were trading up 4.2 percent at $9.52 in Friday's pre-market session.
Related Links:
A Peek Into The Markets: US Stock Futures Surge; All Eyes On Jobs Report
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
