FTC approves Harrah's-Caesars merger

June 8

For those of us online gambling players that like to visit land casinos occasionally, this story will interest you. After all, we like to give our favorite online gabling casinos a rest now and again.

This afternoon, the Federal Trade Commission unanimously voted in favor of Harrah's Entertainment Inc.'s purchase of Caesars Entertainment Inc., allowing it to move forward. Today's much anticipated vote makes room for the development of the world's largest casino company.

At the voting session, the FTC announced full closure of its investigation of the anticipated buyout and did not require any additional limitations on the deal.

Now, the deal only has to go before Nevada regulators. The planned vote is will take place during meetings on Friday. If the plan is then permitted by Nevada regulators, Harrah's looks forward to accomplish the deal on Monday.

As expected the FTC approval was the only real worry here. Nevada regulators are not expected to stand in the way at all.

If the deal is actually completed it will send Harrah's into history books as the World's largest casino company. The newly formed company will then run some 40 casinos in the US alone.

The newly merged company will then employ nearly 100,000 people.

The major obstacle Harrah's was weary of was proving that this deal would not incur any Antitrust issues. It seems that that is mo longer a threat.