Caesars Deal Catapults Underdog Eldorado to Casino Powerhouse By Christopher Palmeri, Bloomberg June 24, 2019 at 2:17 pm In the casino business, the minnow is swallowing the whale. Eldorado Resorts Inc.’s $8.58 billion acquisition of Caesars Entertainment Corp. means an underdog from Reno, Nevada — a town long in the shadow of Las Vegas — will become the largest owner of casinos in the U.S. In the deal, announced Monday, Caesars shareholders will receive about $12.75 a share, including $8.40 in cash. That’s a 28% premium to the casino chain’s close on Friday. While the combined company will retain the Caesars name, there’s no mistaking who’s buying whom in this transaction: Eldorado, with a market value of less than $4 billion, is clinching the giant from Las Vegas and its flagship Caesars Palace.