June 23, 2019 / 7:42 PM / in 23 days

Eldorado Resorts clinches $18 bln cash and stock deal for Caesars - sources

NEW YORK, June 23 (Reuters) - U.S. casino operator Eldorado Resorts Inc has agreed to acquire Caesars Entertainment Corp in a cash and stock deal that values its peer at about $18 billion including debt, people familiar with the matter said on Sunday.

The deal, which is expected to be announced on Monday, values Caesars at close to $13 a share. The combined company’s ownership would be split roughly in half between Eldorado and Caesars shareholders, the sources said.

The sources asked not to be identified because the matter is confidential. Eldorado and Caesars did not immediately respond to requests for comment.

Reporting by Greg Roumeliotis; Editing by Peter Cooney

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