Caesars: New Jersey Casino Control Commission grants merger approval

By Caroline Salls

Pittsburgh, July 14 – Caesars Entertainment Corp. and Caesars Entertainment Operating Co., Inc. (CEOC) announced Friday that the New Jersey Casino Control Commission granted the necessary regulatory approvals required for the merger of Caesars Acquisition Co. (CAC) into Caesars Entertainment and for the reorganization of CEOC.

According to a news release, the merger of CAC with and into Caesars Entertainment is also subject to approval by stockholders of both companies and other customary closing conditions. CEOC’s restructuring is subject to the completion of the merger, financing activities and other customary closing conditions.

In addition to New Jersey, the companies said they have received approvals from gaming authorities in Indiana, Pennsylvania, Iowa, Maryland, Mississippi and Illinois.

Caesars Entertainment and CEOC said they continue to meet with regulators in three jurisdictions where approvals are required for some aspects of CEOC’s restructuring.

Caesars is a Las Vegas-based casino-entertainment company that filed for bankruptcy on Jan. 15, 2015 in the U.S. Bankruptcy Court for the Northern District of Illinois. The Chapter 11 case number is 15-01145.

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