Caesars Entertainment Corporation announced that the Maryland Lottery and Gaming Control Commission has approved its proposed merger with Caesars Acquisition Company, a critical step in completing the restructuring of Caesars’ bankrupt operating arm, Caesars Entertainment Operating Company (CEOC).
Caesars Entertainment and Caesars Acquisition continue to engage with their respective regulators in jurisdictions where approvals are required for the merger and other aspects of CEOC’s restructuring.
In addition to regulatory approvals, the merger is subject to approval by stockholders of both companies and other customary closing conditions, and CEOC’s restructuring is subject to the completion of the merger, certain financing activities, continuing oversight by the U.S. Bankruptcy Court, and other customary closing conditions.
