Eldorado Resorts CEO Tom Reeg cautioned the investment community not to jump to any conclusions about the regional casino operator’s expanding sports betting business. Once the $17.3 billion acquisition of Caesars Entertainment is complete, it may take a while to sort through what Reeg acknowledged last week was a business “that should be driving value decades down the road.” Eldorado and Caesars come into the merger with separate and potentially competing sports wagering agreements. Eldorado’s executive team, which will assume management of the combined company that plans to retain the Caesars Entertainment name, is calling the shots.
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