MGM and Caesars Reportedly in Merger Talks

This story was published more than 1 year ago.

Today the New York Post is reporting that land casino titans MGM Resorts International and Caesars Entertainment are in merger talks, the latest rumored talks related to the future of Caesars in recent weeks.

According to the report, MGM is working with Morgan Stanley and Weil Gotshal and Magnes to draft a study on whether or not a merger between the groups makes sense. That would be the first step toward a purchase, with an offer coming at some point after. Caesars has been facing financial difficulties for some time, and various hedge fund groups own large portions of the company. Those groups are pushing for a merger to alleviate some of the pressure, and last month it was reported that Caesars was in serious discussions with the Golden Nugget, although that went nowhere.

A merger would see Caesars folded into MGM, as the latter has a valuation of $30 billion, while Caesars comes in at $4.5 billion. Any merger would be dependent on regulatory approval in various jurisdictions, as both have locations in Nevada and New Jersey.

The Casino Listings news team will be following the story and will update readers as we learn more.

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.
1 reply • Last post

Comments

krcoolsongss
High RollerHigh Roller
coolsongss's picture
Joined: 2 Dec 2014
Posts: 2726
Thanks given: 2017
Thanks received: 1349
8 November 2018 - 6:23am
#1

Wow, I have been to MGM casino only in Macau some years ago, when it was newly opened then.

Anyway, if the merger deal was realized, it should be one of the biggest news in 2018.

And the valuation of Caesars($4.5 billion) is much smaller than my expectation.