LAS VEGAS, Jan. 8, 2018 /PRNewswire/ -- Caesars Entertainment Corporation (NASDAQ: CZR) ("Caesars Entertainment") today announced that the U.S. Federal Trade Commission (FTC) has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) with respect to the previously announced acquisition of Centaur Holdings, LLC. The proposed acquisition was announced on November 16, 2017.
"This important milestone brings us one step closer to completing this acquisition, which is part of our post-emergence, inorganic growth strategy," said Mark Frissora, President and Chief Executive Officer of Caesars Entertainment. "In addition to expanding our gaming footprint, Caesars Entertainment has a strong track record of operating gaming facilities with horse tracks as successful integrated operations, which benefit horsemen, local communities and the state at large. We are especially impressed by the racing operations at the Centaur properties and intend to import best practices from these properties to other Caesars Entertainment properties with racing operations."
Under the terms of the proposed transaction, Caesars Entertainment will acquire Hoosier Park Racing & Casino ("Hoosier Park") in Anderson, Indiana and Indiana Grand Racing and Casino ("Indiana Grand") in Shelbyville, Indiana, in addition to three off-track betting facilities in Indiana. Both Hoosier Park and Indiana Grand offer gaming, racing, dining, and entertainment, and feature about 2,000 of the latest slots and electronic table games, multiple dining outlets, and both live and simulcast horse racing.
The acquisition of Centaur remains subject to Indiana gaming and horse racing commission approvals and satisfaction of customary closing conditions.
About Caesars Entertainment Corporation
Caesars Entertainment is the world's most diversified casino-entertainment provider and the most geographically diverse U.S. casino-entertainment company. Since its beginning in Reno, Nevada, in 1937, Caesars Entertainment has grown through development of new resorts, expansions and acquisitions and its portfolio of subsidiaries now operate 47 casinos in 13 U.S. states and five countries. Caesars Entertainment's resorts operate primarily under the Caesars®, Harrah's® and Horseshoe® brand names. Caesars Entertainment's portfolio also includes the Caesars Entertainment UK family of casinos. Caesars Entertainment is focused on building loyalty and value with its guests through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership. Caesars Entertainment is committed to environmental sustainability and energy conservation and recognizes the importance of being a responsible steward of the environment. For more information, please visit www.caesars.com.
This release includes "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. In particular, they include statements relating to, among other things, Caesars Entertainment's plans, strategies, and opportunities for growth. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Further, these statements contain words such as "exploring", "strategy", "will", and "expected", " or the negative or other variations thereof or comparable terminology. These forward-looking statements are based on current expectations and projections about future events.
Investors are cautioned that forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that cannot be predicted or quantified, and, consequently, the actual performance of Caesars Entertainment may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the following factors, and other factors described from time to time in Caesars Entertainment's reports filed with the Securities and Exchange Commission (including the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained therein):
Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. Caesars Entertainment disclaims any obligation to update the forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated or, if no date is stated, as of the date of this release.
SOURCE Caesars Entertainment Corporation