Caesars Entertainment (CZR) Receives Early Termination of HSR Waiting Period for Acquisition of Centaur Holdings
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.