Hyped as Megamerger II following the recent deal between MGM Mirage and Mandalay Resorts, the Nevada Gaming Commission has approved Harrah’s Entertainment Inc. acquisition of Caesars Entertainment Inc.
"We are pleased to bring our two great companies together," said Gary Loveman, chairman, chief executive and president of Harrah's Entertainment. "Today we begin the most important task in the history of our company: Capitalizing on the tremendous potential of this merger. By putting our proven capabilities and marketing expertise to work in the incomparable Caesars portfolio, we believe we can generate strong, sustainable growth that will benefit our shareholders, our employees, our customers, and every community where we operate."
Now the world’s largest provider of branded casino entertainment, Harrah’s Entertainment Inc. has grown over its 67 years through the development of new properties, expansions and acquisitions. This latest merger means Harrah’s Entertainment In. owns or manages more than 40 casinos in three countries covering 4 million square feet of casino space, with over 40,000 hotel rooms and nearly 100,000 employees.