Caesars Entertainment Corporation recently made it public that it has received an early termination of the waiting period which is mandatory under the Hart-Scott-Rodino Antitrust Improvements Act. The US Federal Trade Commission has decided to make the move regarding the regulation from 1976 and grant the international casino operator with an earlier date, thus speeding up the process of acquisition of Centaur Holdings LLC. As it could be recalled, Caesars announced its plans to purchase the global investment holding company back in November 2017.
The decision of the Federal Trade Commission is expected to help with the further development of the project, as it is going to immensely speed up the whole process of acquisition. The news is good for the casino operator because they mean that from now on it will all happen much faster and efficiently. The purchase of Centaur Holdings is one of the steps which the gambling operator relies on when it comes to the development strategy which is implemented. Mark Frissora is President and Chief Executive Officer of Caesars Entertainment, and he stated that the company has been working on its growth and branching out in order to attract more customers.
It could be recalled that the last two years have not been easy for Caesars Entertainment, as it only recently emerged from a two-year bankruptcy. Centaur Holdings has several facilities located in the state of Indiana which apparently seemed appealing to the gambling operator because they will become Caesars’ property soon. Shortly after the finalizing of the acquisition process Hoosier Park Racing & Casino located in Andreson, Indiana and Indiana Grand Racing and Casino located in Shelbyville, Indiana, as well as three off-track betting venues in the same state will be legally owned by Caesars Entertainment. The new facilities are going to add to the variety of entertainment offerings.
What the Deal Includes
At the moment they offer gaming and racing locations, dining options, as well as a wide variety of entertainment on site. They also boast as many as 2,000 of the most advanced slots and electronic table games which are always in demand. The deal itself was announced late last year and it was confirmed to amount to some $1.7 billion in cash. This move is considered one of the ways in which the major casino operator is attempting to branch out and explore new markets which are in the process of development. Caesars’ introduction to the area is expected to boost the industry and add Centaur’s customers data base to its account.
A notable fact is that there are as many as 6.5 million guests willing to participate in gambling activities on site of the locations managed by Centaur over the span of a single year, as well as more than 1.1 members of the loyalty program which enjoy a wide variety of benefits. Indiana Gaming and Horse Racing Commission is expected to give its official approval of the acquisition deal and add the new locations to the 47 already existing Caesars ones.