In a vote last week, Caesars Entertainment and Eldorado Resorts shareholders approved a $17.3 billion buyout that will result in the largest casino company in the world. More than 99% of shareholders from both companies supported the deal, which will give Eldorado 51% of the new company, which comprises 60 casinos.

Although a Securities and Exchange Commission filing shows that in May it subpoenaed Eldorado CEO Tom Reeg; James Hawkins, board member; Anthony Carano, chief operating officer/president; and Gary Carano, executive chairman, it is not expected to affect the company's plans to absorb Caesars Entertainment, which was informed in June. The investigation involves trading in another company for which Hawkins is on the board.

Eldorado Resorts will take on a total of $15.5 billion in debt in a $17.3 billion deal to acquire Caesars Entertainment. Travis Hoium writes that there are notable similarities between the current deal and a 2007 acquisition between Caesars and Harrah's that did not fare well.

If shareholder and regulatory approvals come through for a $17.3 billion deal between Eldorado Resorts and Caesars Entertainment, Eldorado would become the US' largest gaming company, jumping from 26 to 81 properties and 18,000 to 81,000 employees. Donald Carano started the company in the 1970s with the Eldorado Hotel Casino in Reno, Nev., and the company didn't go public until five years ago.

The Nevada Gaming Control Board approved the Eldorado Resorts' planned purchase of the Circus Circus Reno and a 50% stake in the Silver Legacy. Eldorado, which currently owns half of the Silver Legacy, has offered MGM Resorts International $72.5 million for total ownership of the two casinos in Reno, Nev. The deal awaits approval from the Nevada Gaming Commission later this month.