Most of the industry is waiting for the merge of the century to come to a conclusion. We, of course, are talking about the Eldorado Resorts Inc absorption of Caesars Entertainment Corp. That was speculated by the associated press to get announced in the first half of 2020. Yet, the decision and gavel wielding have as of now shined with its absence. However, one step in the right direction is the initial casino key employee license approval. By which issues from the State of New Jersey’s Casino Control Commission (CCC). Though this is not exactly brand new information on the development in this story. In fact, it’s more of an update from an earlier temporary approval in October 2019 by the CCC. Where the man of the headlines is as expected, Ronald Baumann.
June meeting is all over
Indeed, now when the CCC recognizes Mr Baumann to possess the right qualifications. This to run operations on a regional level on the upcoming merge. The actual merge approval could be months away. Where the next meeting with the CCC set to July 15th followed by August 12th. However, let us celebrate the win at hand. Where Mr Baumann got the green light as Regional President and Chief Executive Officer. This of Bally’s Park Place. But also Boardwalk Regency, and Harrah’s Atlantic City operating company. Commenting on the good news is the recipient himself. Where he mentions such things as. “I am looking forward to safely reopening and operating our facilities.” But also that he felt privileged to hold a gaming license in the state. Where he also extended his gratitude to all involved parties.
Far from final
It’s unlikely that the merger deal will not go through. As it’s already approved by many states across the U.S. Still, New Jersey and Nevada among others are lingering. Plus this includes federal regulators that are as of now weighing the positives versus the negatives. And one of the more concerning points is most definitely the overall control. Meaning, if the joint venture proposal ends in a positive outcome. The newly formed company would handle 4 of the total 9 casinos in Atlantic City. Inching very close to an unbalanced economic power. And as of now, the deals are far from final. And we should expect more detailed information to get available as the historical event develops. As such, like to be on top of the story? Stay tuned, as we continue to report.