MTR says it's Proceeding with Eldorado Merger Plan - WTRF 7 News Sports Weather - Wheeling Steubenville

MTR says it's Proceeding with Eldorado Merger Plan

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MORGANTOWN, W.Va. (AP) - MTR Gaming Group says it's evaluating an offer from Jacobs Entertainment but is proceeding with its merger with Eldorado Resorts.

Colorado-based Jacobs made an unsolicited offer earlier this month that it says is 10 percent richer for MTR shareholders than the alliance with Nevada-based Eldorado.

MTR said Tuesday its board unanimously supports the merger, and it's impossible to say when it might make any decisions about the Jacobs offer.

MTR said it won't comment further.

In U.S. Securities and Exchange Commission filings, CEO Jeffrey Jacobs said his unsolicited offer of $5.69 per share is worth $15.6 million more than Eldorado Resorts' offer of $5.15 per share.

He also argues that MTR's board wouldn't be selling control of the company and could still appoint the majority of the board of directors.

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