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JCIR investor relations shop is advising Eldorado Resorts as it offers $8.6B to acquire Caesars Entertainment to create the nation’s biggest gambling company.
The combined entity will keep the Caesars name and have 60 US casino/resorts and gambling halls in 16 states. Eldorado and Caesars' shareholders will own 51 percent and 49 percent of the new NASDAQ-listed company, respectively.
The transaction calls for the sale of three Caesars properties—Harrah’s casinos in Atlantic City, Laughlin (Nev.) and New Orleans—to VICI Properties for $3.2B.
Eldorado CEO Tom Reeg said the merger will create “an extremely powerful suite of iconic gaming and entertainment brands, as well as valuable strategic alliances with industry leaders in sports betting and online gaming.”
JCIR founder/president Joseph Jaffoni, senior managing director Richard Land and managing director James Leahy represent Eldorado.
Teneo’s Stephen Cohen handles Caesars.
Caterpillar’s Rob Rengel will join ATI Inc. on June 22 as VP-investor relations, succeeding the retiring David Weston.
Hut 8, energy infrastructure platform, has named NextEra Energy's Mark Eidelman head of IR and SVP of strategic finance.
Teneo handles easyJet as Minneapolis investment firm Castlelake mulls a possible takeover of the British budget airline.
Brunswick Group represents Universal Music Group as it rejects the unsolicited $65B takeover offer by billionaire Ed Ackman's Pershing Square Capital Management because it “fundamentally and materially undervalues” the world’s largest music company.
Prosek Partners brings on Danielle O’Brien as a managing director in its investor relations practice, based in the firm’s New York office.
