In the casino business, the minnow is swallowing the whale.
Eldorado Resorts Inc.'s $8.58 billion acquisition of Caesars Entertainment Corp. means an underdog from Reno, Nevada — a town long in the shadow of Las Vegas — will become the largest owner of casinos in the U.S.
In the deal, announced Monday, Caesars shareholders will receive about $12.75 a share, including $8.40 in cash. That's a 28 percent premium to the casino chain's close on Friday.