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Mergermania

By Chuckmonster on Monday, 13th June 2005 11:37pm
  » filed under Las Vegas  comments: 0

   

The mergermania that has swept the gaming industry for more than a year is changing competition in ways no one expected when it all began, industry experts agree. Caesars Entertainment, once the largest gaming company, will be nothing but history once Harrah's Entertainment completes its $9.4 billion buyout of the company as expected.

Harrah's won Nevada regulators' approval Friday, completing the last regulatory hurdle to close the deal, probably on Monday. That merger follows by two months the disappearance of Mandalay Resort Group, previously the fourth-largest casino company in Las Vegas.

It was bought out in April by MGM Mirage for $7.9 billion, at the time the largest merger in history. And a year ago, Coast Casinos, once one of the Big Three locals casino operators, disappeared when it was bought out by Boyd Gaming Corp.




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