The Eldorado companies were reorganized in 1996 as Eldorado Resorts LLC in connection with a $100-million bond offering. [9] [10] In March 2019, it was reported that Eldorado was discussing a merger with Caesars Entertainment. [27] In June 2019, Caesars accepted Eldorado's offer to purchase Caesars for $18 billion in stock and cash. [28] Eldorado operated 26 assets compared to Caesars, which controlled 53. [29] Eldorado would change its name to Caesars Entertainment after the completion of the acquisition, and the companies' loyalty programs would be combined under the Caesars Rewards brand. Eldorado's key executives would be retained. [ citation needed ] The deal was expected to be completed in the middle of 2020. [30] In February 2022, Caesars Entertainment announced a multi-year deal which named the organisation as the official sportsbook partner of the NBA's Cleveland Cavaliers.
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