RENO, Nev. and LAS VEGAS, Dec. 28,
2020 /PRNewswire/ -- Caesars Entertainment, Inc., (NASDAQ:
CZR) ("Caesars," "CZR," "CEI" or "the Company") announces the early
termination of the waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976 ("HSR Act") relating to the
proposed combination with William Hill PLC, effective December 28, 2020.
The proposed combination also received approvals from the
Mississippi Gaming Commission on November
19, 2020 and the West Virginia Lottery on December 16, 2020. The transaction
remains subject to the satisfaction of the remaining
conditions, including approval by the Indiana Gaming Commission,
Nevada Gaming Control Board, Nevada Gaming Commission, New Jersey
Division of Gaming Enforcement and Casino Control Commission, and
the Pennsylvania Gaming Control Board. Additionally, the
combination requires the English High Court's final approval and
administrative and post-closing approvals from other US agencies.
Caesars continues to progress through obtaining all necessary
regulatory approvals required to close the transaction and is still
aiming to complete the proposed combination in March 2021.
About Caesars Entertainment, Inc.
Caesars Entertainment, Inc. is the largest casino-entertainment
company in the U.S. and one of the world's most diversified
casino-entertainment providers. Since its beginning in Reno, Nevada, in 1937, Caesars Entertainment,
Inc. has grown through development of new resorts, expansions and
acquisitions. Caesars Entertainment, Inc.'s resorts operate
primarily under the Caesars®, Harrah's®, Horseshoe® and Eldorado®
brand names. Caesars Entertainment, Inc. offers diversified
amenities and one-of-a-kind destinations, with a focus on building
loyalty and value with its guests through a unique combination of
impeccable service, operational excellence and technology
leadership. Caesars is committed to its employees, suppliers,
communities and the environment through its PEOPLE PLANET PLAY
framework. For more information, please visit
www.caesars.com/corporate.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements include statements regarding
our strategies, objectives and plans for future development or
acquisitions of properties or operations, as well as expectations,
future operating results and other information that is not
historical information. When used in this press release, the terms
or phrases such as "anticipates," "aiming," "believes," "projects,"
"plans," "intends," "expects," "might," "may," "estimates,"
"could," "should," "would," "will likely continue," and variations
of such words or similar expressions are intended to identify
forward-looking statements. Although our expectations, beliefs and
projections are expressed in good faith and with what we believe is
a reasonable basis, there can be no assurance that these
expectations, beliefs and projections will be realized. There are a
number of risks and uncertainties that could cause our actual
results to differ materially from those expressed in the
forward-looking statements which are included elsewhere in this
press release. These risks and uncertainties include: (a) the
possibility that the proposed acquisition of William Hill is not
consummated on the expected timeline or at all; (b) the possibility
that regulatory approvals of the proposed acquisition of William
Hill impose conditions or are not obtained; (c) risks related to
the integration of the William Hill business with the operations of
the Company; (d) the possibility that the anticipated benefits of
the proposed acquisition of William Hill are not realized when
expected or at all; (e) potential adverse reactions or changes to
business or employee relationships resulting from proposed
acquisition of William Hill; (f) risks associated with
increased leverage resulting from debt financing undertaken in
connection with the proposed acquisition of William Hill; (g)
competitive responses to the proposed acquisition of William Hill;
(h) the effects of the COVID-19 public health emergency on the
business and operations of the Company and William Hill; and (i)
additional factors discussed in the sections entitled "Risk
Factors" and "Management's Discussion and Analysis of Financial
Condition and Results of Operations" in the Company's and CEC's
respective most recent Annual Reports on Form 10-K and Quarterly
Reports on Form 10-Q as filed with the Securities and Exchange
Commission. Other unknown or unpredictable factors may also cause
actual results to differ materially from those projected by the
forward-looking statements.
In light of these and other risks, uncertainties and
assumptions, the forward-looking events discussed in this press
release might not occur. These forward-looking statements speak
only as of the date of this press release, even if subsequently
made available on our website or otherwise, and we do not intend to
update publicly any forward-looking statement to reflect events or
circumstances that occur after the date on which the statement is
made, except as may be required by law.
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SOURCE Caesars Entertainment, Inc.