Another one down, 13 more to go. The merger between Eldorado Resorts and Caesars Entertainment is now another step closer to becoming a reality after gaming regulators in Pennsylvania couldn’t find any reason to reject the planned $17.3-billion merger. The Pennsylvania Gaming Control Board (PGCB) has now given its approval, following similar responses previously seen in 
Louisiana, Iowa and Illinois.
Eldorado released a statement yesterday, confirming the latest approval. With a constant flow of support by state gaming regulators where the companies operate, it shouldn’t be difficult for the merger to receive all of the necessary approvals in order to complete the deal by sometime during the first half of this year. That falls in line with previous projections for completion of the merger, and the result will be the largest gaming company in the U.S.
Receiving the PGCB’s approval was always considered a slam-dunk. Between the two companies, only one property is found in the state, Harrah’s Philadelphia. That casino is a Caesars-owned property, and it might be joined by others under the new post-merger entity once the deal is consummated.
Pennsylvania is a hotbed for sports gambling action, and it would be a smart bet to put money on the company seeking further expansion into the state to participate in the nascent market. According to the PGCB, the amount of sports wagers continues to rise, and the state saw over $30.7 million in bets on this year’s Super Bowl LIV. With both online and retail sportsbooks authorized in the Keystone State, there is a lot of potential action available.
Next up, the deal still needs to be approved by Mississippi, Indiana, Nevada and more. Mississippi and Indiana shouldn’t be too much of a problem in terms of possible market monopolization, and Nevada will almost certainly not stand in the way. The two companies have a significant presence in the state, but are working on slimming down their portfolios in order to avoid any regulatory roadblocks.
Where there might be a bigger issue is in New Jersey. Eldorado and Caesars control four of the state’s nine casinos, and the current political and regulatory environments around Atlantic City might result in some hesitation. However, as was just reported by the Division of Gaming Enforcement, January revenue increased 30.9% compared to a year earlier, going from $229.6 million to $300.7 million. With that type of performance, despite concerns that the local market is saturated, regulators will most likely look the other way and ignore the post-merger company’s control in order not to impact the local job scene.
