July 23, 2020
Caesars Entertainment, Inc. (Caesars, Caesars Entertainment, or the Company, formerly known as Eldorado Resorts, Inc. or Eldorado) announced that it completed its US$17.3 billion buyout of Caesars Entertainment Corporation. The first-of-its-kind acquisition financing structure involved eight separate tranches of debt at separate levels of the ownership structure and sale-leaseback financings of approximately half of the combined company’s assets. The transaction creates the largest casino and entertainment company in the US.
Latham & Watkins LLP represented Eldorado Resorts in the acquisition with a cross-office finance and corporate team led by San Diego partners Sony Ben-Moshe, Bob Frances, Steve Levine, James Mann, and Omar Nazif, Los Angeles partners Ken Askin and Ana O’Brien, Century City partner Steve Stokdyk, New York partners Senet Bischoff, Benjamin Cohen, Larry Safran, and Reza Mojtabaee-Zaman, San Diego counsel Loring Veenstra with associates Claire Bang, Patrick Blake, Aaron Friberg, Joanna Gorska, Brendan Haberle, Jeff Gonzalez, Neelam Mohammed, Bryan Monson, Philip Dear, Grace Garcea, Will Kessler, Catherine Shaw, Bailey Wilson, Eric Rice, Josh Chao, and James Dorian.