Eldorado's existing owners held 50.2 percent of the combined company, and Gary Carano was appointed as its chairman and CEO. The transaction closed on September 19, 2014, creating Eldorado Resorts Inc.
The merger would add three racinos in Ohio, Pennsylvania, and West Virginia to Eldorado's portfolio. In 2013, Eldorado agreed to combine with the publicly traded MTR Gaming Group in a reverse merger. It was then rebranded as the Eldorado Casino Shreveport. In 2005, the company took over the bankrupt Hollywood Casino Shreveport in Louisiana, buying a 76 percent stake in the property for $154 million. The Eldorado companies were reorganized in 1996 as Eldorado Resorts LLC in connection with a $100-million bond offering. On July 28, 1995, the Eldorado opened the adjacent Silver Legacy Resort Casino in partnership with Circus Circus Enterprises. The company traces its history back to the development of the Eldorado Hotel in Reno, which was opened on May 24, 1973, by a group of investors that included Don Carano and other members of the Carano family. Eldorado Resorts acquired Caesars Entertainment Corporation and changed its own name to Caesars Entertainment on July 20, 2020. Caesars Entertainment, Inc., formerly Eldorado Resorts, Inc., is an American hotel and casino entertainment company founded and based in Reno, Nevada that operates more than 50 properties.
