New Jersey Licensed Caesars’ Regional President, No News Regarding Eldorado Merger
New Jersey regulator is still to review the proposed merger between Caesars Entertainment and Eldorado Resorts. The Casino Control Commission in the Garden State issued an initial casino key employee license during its meeting Wednesday for Caesars’ Ronald Baumann, and deemed him qualified to serve as Regional President and CEO of Bally’s Atlantic City, Caesars Atlantic City, and Harrah’s Atlantic City.
Baumann Licensed by the NJ Regulator
Baumann has significant experience in the industry, with positions as a senior executive at Indiana Grand Racing & Casino and Harrah’s Philadelphia Casino and Racetrack being part of his resume, alongside several leadership positions with Caesars Entertainment, from 2019 on, when he returned to Atlantic City.
“It is both a privilege and an honor to be granted and to hold a gaming license in the state of New Jersey, and I want to thank both the commission and the (Division of Gaming Enforcement) for granting my key license today. I am looking forward to safely reopening and operating our facilities with our health and wellness protocols for our team and guests.”
Ronald Baumann, New Jersey Regional President and CEO, Caesars Entertainment
Caesars Eldorado Merger Still Pending
The proposed tie up between Reno-based Eldorado Resorts and Caesars Entertainment that have already been approved by the regulators in more than a dozen states, is still pending several states to signal a green light, Indiana and Nevada, besides New Jersey, with the Federal Trade Commission’s approval also needed. However, the recently expressed optimism by Eldorado CEO Tom Reeg that the merger would complete by the end of June looks now like a wishful thinking.
New Jersey regulators have been looking into the proposed merger with regards to the effect it would have on the gaming market in the state, namely that the combined entity would have control over 4 of the New Jersey’s 9 casino properties. To alleviate their concerns, Caesars and its real estate investment trust, VICI Properties, entered in April into a deal with Twin River Holdings for the sale of Bally’s Atlantic City for $25 million, pending on the completion of the mega-merger with Eldorado.
The gaming property that first opened in 1979, Bally’s, will continue to be part of the Caesars Rewards network until the sale is finalized, and the sports book wagering facility that is currently inside it will be shifted over to another gaming property, Caesars Atlantic City.
Despite the unwinding of one of the combined company properties in the state, it is still unclear when the Casino Control Commission would assess the deal and either approve or reject it. While the Indiana Gaming Commission and the Indiana Horse Racing Commission will reportedly discuss the merger deal during a meeting in July, it is not clear when regulatory officials in Nevada would do that.
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