There isn't much action these days at Caesars Windsor, but there was plenty happening behind the scenes as the casino's parent company completed a significant merger.
In a process that has taken 13 months to complete, Caesars Entertainment announced Monday that the merger with Eldorado Resorts has closed, creating the largest gaming and entertainment company in North America.
The total announced value of the merger, as reported before, is $17.3 billion. Eldorado had agreed to pay off Caesars' outstanding net debt and acquire outstanding shares of Caesars stock. Eldorado will adopt the corporate name of Caesars Entertainment.
"We are pleased to have completed this transformative merger, thus making us the premier leader in gaming and hospitality. We look forward to executing on the numerous opportunities ahead to create value for all stakeholders," said Tom Reeg, CEO of Caesars Entertainment. "Additionally, we are pleased to welcome all of our Team Members to the combined company, and we look forward to implementing all of the strategic initiatives that will position the company for continued growth."
The merger needed the approval of gaming and horse racing commissions in Nevada, New Jersey, and Indiana. The combined company now owns and operates 55 properties around the world, including Caesars Windsor.
All employees for the now-united Caesars Entertainment will continue in their current positions with no changes in the workforce expected. At Caesars Windsor, a collective bargaining agreement was signed with Unifor Local 444 in the spring of 2018.
Ontario Lottery and Gaming (OLG), which owns and operates Caesars Windsor on behalf of the province of Ontario, did not immediately comment on the completion of the merger. Still, spokesman Tony Bitonti told BlackburnNewsWindsor.com in June 2019 that no changes in operation were to be expected. OLG has an agreement to operate the resort through the summer of 2023.
"It remains business as usual at Caesars Windsor as it continues to deliver gaming excellence, world-class hospitality and superior customer service," said Bitonti at the time.
The resort has been temporarily closed since mid-March when provincial health officials shut down gaming halls in Ontario to curb the COVID-19 pandemic. Caesars Windsor is expected to reopen after the province of Ontario allows Windsor-Essex to move to Stage 3 of the province's economic reopening.
