Caesars Entertainment Corporation CZR and Eldorado Resorts ERI shares are trading higher on Tuesday. A source told CNBC the merger between the two companies should be completed in June.
The casino sector faces headwinds due to the coronavirus and decreased travel and leisure demand.
"There has been some speculation that the massive disruption in the casino sector due to the pandemic would slow down the regulatory review of the deal," according to Seeking Alpha.
Eldorado Resorts shares were trading up 21% at $14.58 on Tuesday. The stock has a 52-week high of $70.74 and a 52-week low of $6.02.
Caesars Entertainment shares were trading up 4.05% at $6.68. The stock has a 52-week range between $14.74 and $3.22.
Related Links:
Caesars Entertainment To Sell Rio Casino Business For $516.3M
Twin River Worldwide Will Buy 2 Casinos From Eldorado Resorts For $230M
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