LAS VEGAS: Caesars Entertainment Corporation (NASDAQ: CZR) and Caesars Entertainment Operating Company, Inc. (CEOC) today announced that the Louisiana Gaming Control Board and the Missouri Gaming Commission have granted the necessary licenses and regulatory approvals required for the reorganization of CEOC.
With the additions of Louisiana and Missouri, the companies have now received approvals from all necessary gaming authorities for CEOC's restructuring and for the merger of Caesars Acquisition Company ("CAC") into Caesars Entertainment Corporation (the "Merger"), including Illinois, Indiana, Iowa, Maryland, Mississippi, Nevada, New Jersey and Pennsylvania.Stockholders of Caesars Entertainment and Caesars Acquisition have also approved the previously announced Merger of both companies, as well as a number of other matters related to the restructuring of CEOC and its emergence from bankruptcy.
The Merger of Caesars Entertainment Corporation and Caesars Acquisition is subject to customary closing conditions, including the completion of CEOC's restructuring. CEOC's restructuring is subject to the completion of the Merger, certain financing activities and real estate transactions, various internal and third party transfers and other customary closing conditions. Caesars Entertainment currently anticipates completing the Merger and CEOC's restructuring in the first week of October.
