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.