Eldorado-Caesars Merger Sets Up Strong Position In Indiana

Next week, the merger between Caesars and Eldorado could overcome another obstacle.

The $17.3 billion merger still requires approval from state regulators in Nevada, New Jersey, and Indiana.

The meeting to discuss the merger is scheduled by the Indiana Gaming Commission for July 10.

Should the commission grant its approval, the entire process would receive a significant momentum boost.

The FTC finally approves Eldorado merger.

Getting approval from the federal government was the biggest obstacle for the merger to close.

The merger, which will bring 60 different properties together, will establish the biggest gambling company in the US.

Due to the enormity of the deal between the two major companies, numerous antitrust clearances had to be navigated. The Federal Trade Commission was tasked with ensuring that the merger wouldn’t result in an unjust monopoly in the gaming industry.

On June 26, Eldorado announced that it was in the clear.

Tom Reeg, the CEO of Eldorado Resorts, said that now that the hurdles have been overcome, he is eager to finalize plans.

“We are thrilled to inform everyone about the FTC’s approval of our proposed merger with Caesars. This is anticipated to establish us as the biggest owner and operator of US gaming assets. We eagerly await the finalization of the merger, which is contingent upon receiving the remaining approvals and consents from regulators in Nevada, New Jersey, and Indiana.”

In the end, the newly formed mega-company will retain the Caesars name instead of Eldorado. However, despite maintaining the Caesars branding, the executives from Eldorado will be in charge.

The implications of the Caesars merger for Indiana

If state regulators give the deal their final approval, there will be some changes for Indiana.

Once the deal is finalized, Caesars will possess a significant portion of the state’s casinos, including:

• Tropicana Evansville
• Horseshoe Hammond
• Indiana Grand
• Caesars Southern Indiana
• Harrah's Hoosier Park
• The locations of The Winner’s Circle in both Indianapolis and New Haven.

The merger will also shake up Indiana’s sports betting market.

Caesars Sportsbook is currently available online across the Hoosier State. However, following the merger, it will be just one of several sportsbooks that Caesars will be involved in.

Currently, Eldorado has arranged a deal with William Hill to cater to its sports betting requirements.

While the online sports betting app is yet to be launched in Indiana, William Hill is operating the physical sportsbook at Tropicana Evansville.

Additionally, two other online sportsbooks are involved here.

The Stars Group, in collaboration with Eldorado, is managing the nationwide launch of Fox Bet.

Moreover, Caesars has arranged to collaborate with Unibet Sportsbook in the Hoosier State.

Once the official merger between Caesars and Eldorado is complete, the resulting enhanced company will boast of Caesars Sportsbook, William Hill, Unibet, and Fox Bet as its online sports betting partners in Indiana.

Partners for Fox Bet, William Hill, and Unibet Casinos

Fox Bet, William Hill, and Unibet are not yet available online in Indiana.

Currently, Fox Bet doesn’t possess its provisional vendor license, which is the initial step towards starting operations in the state.

Assuming that the launch occurs after the merger, there will be several options regarding which casino will become the land-based partner of Fox Bet.

It may emulate Caesars Sportsbook by joining under Horseshoe Hammond’s license, or it could choose to collaborate with another Caesars property that hasn’t yet ventured online. Two potential choices for this could be Harrah’s Hoosier Park and Indiana Grand.

Another alternative would be to attach Fox Bet to the license of an Eldorado casino that is about to change ownership. In Indiana, this would involve a partnership between Fox Bet and Tropicana Evansville.

William Hill obtained its license in August 2019, but has yet to declare a launch date. When it eventually starts its online operations, it will be in partnership with Tropicana Evansville, which will serve as its physical counterpart.

Unibet obtained its license in February, but similar to William Hill, it has not yet disclosed its launch date in Indiana. Unibet’s casino partner is Horseshoe Hammond.

After the merger between Caesars and Eldorado is finalized, a new giant of the gambling industry will be established. In Indiana specifically, Caesars will have involvement in a minimum of four online sportsbooks and five terrestrial casinos.

Caesars anticipates approval for the merger from the Indiana Gaming Commission at the meeting on July 10. Should this occur, the only remaining obstacles for the merger would be gaining approval from Nevada and New Jersey.