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Gaming group Eldorado Resorts has been granted approval to purchase Caesars Entertainment Corporation, giving the group an important step toward finalizing the purchase.
Last year Caesars reached an agreement to purchase Caesars for $17.3 billion, but the deal is subject to approval by various gaming regulators, given the large number of markets that Caesars has properties in. The Louisiana Gaming Control Board granting approval to the deal puts the final acquisition one step closer to being done.
Eldorado has stated that they expect the regulatory approvals to be completed by the end of June, and they're hoping that the acquisition is completed by that timeframe.