Eldorado agrees Caesars deal

Eldorado Resorts has agreed to buy its larger rival Caesars Entertainment for about $8.58bn in cash and stock, a move that would create the largest US casino operator by venue count.

The deal combines Caesars’ Las Vegas properties – which include Caesars Palace and Harrah’s –  with Eldorado’s locations, many of which are in the south and midwest. In all, the combined firm will own and operate 60 casinos in 16 states.