CHESTER, W.Va. -- The proposed merger of MTR Gaming Group Inc. and Eldorado HoldCo LLC, Reno, Nev., has been approved by the Nevada State Gaming Control Board and the Nevada Gaming Commission. This final approval satisfies one of the conditions for the proposed transaction.
As announced, MTR, Eldorado and certain of their affiliates entered into a merger agreement, pursuant to which MTR and Eldorado will become wholly-owned subsidiaries of Eclair Holdings Co., which will be renamed Eldorado Resorts Inc. The proposed combination has been approved by MTR stockholders, gaming regulators in West Virginia, Louisiana and Ohio. The merger remains subject to certain conditions and approvals, including final regulatory approvals from gaming regulators, registration and listing of Eldorado shares and customary closing conditions.
MTR Gaming Group Inc. is a hospitality and gaming company that through its subsidiaries owns and operates Mountaineer Casino, Racetrack & Resort here, Presque Isle Downs & Casino in Erie, Pa., and Scioto Downs in Columbus, Ohio.
Eldorado HoldCo LLC is the parent company of Eldorado Resorts LLC, whose properties include Eldorado Reno, Eldorado Shreveport and Silver Legacy (a 50/50 joint venture with MGM Resorts International).
Published by The Business Journal, Youngstown, Ohio.
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