Eldorado Resorts

Eldorado Resorts, Inc.
Public
Traded as
Industry Entertainment & Hospitality
Predecessor Eldorado Holdco LLC and MTR Gaming Group
Founded September 19, 2014 (2014-09-19)
Reno, Nevada, U.S.
Founder Don Carano[1]
Headquarters Reno, Nevada, U.S.
Owner Carano family (14%)[2]
Number of employees
 Increase ~ 12,500 (2017)
Website Official website

Eldorado Resorts, Inc. is a casino entertainment company based in Reno, Nevada that owns and operates 28 properties across 12 U.S. states.[3]

History

Eldorado Resorts was formed on September 19, 2014, by the merger of MTR Gaming Group and Eldorado Holdco LLC.[4]

In November 2015, Eldorado bought Circus Circus Reno and the 50% stake in the Silver Legacy that it did not already own from MGM Resorts International for $73 million.[5][6]

In May 2017, Eldorado acquired Isle of Capri Casinos for $1.7 billion in cash, stock, and assumed debt, adding twelve casinos to its holdings.[7]

In February 2018, Eldorado agreed to sell Presque Isle Downs and Lady Luck Casino Vicksburg to Churchill Downs, Inc. for a total of $230 million.[8] The sale of the Lady Luck was later canceled because of antitrust concerns, and Eldorado instead agreed to sell the operations of Lady Luck Casino Nemacolin to Churchill Downs.[9]

In August 2018, Eldorado bought the Grand Victoria Casino in Illinois for $328 million.[10][11] Two months later, Eldorado acquired the operating business of Tropicana Entertainment for $640 million, adding seven casinos to its portfolio. Gaming and Leisure Properties simultaneously purchased the real estate of five of the casinos and leased them to Eldorado for a total of $88 million per year.[12][13][14] Additionally, Eldorado paid $246 million for the real estate underlying Tropicana's Lumière Place casino in Missouri.[12]

List of properties

The properties owned and operated by Eldorado Resorts are:

The following properties are operated by the company and leased from Gaming and Leisure Properties:

References

  1. ↑ http://www.kolotv.com/content/news/Eldorado-founder-Don-Carano-dies-449426743.html
  2. ↑ Form 14A: Proxy Statement (Report). Eldorado Resorts. April 25, 2018. p. 9 – via EDGAR.
  3. ↑ "Properties". Eldorado Resorts. Retrieved 2018-10-11.
  4. ↑ John Guerriero (September 20, 2014). "MTR Gaming merger with Eldorado now official". Erie Times-News. Retrieved 2014-11-27.
  5. ↑ Stutz, Howard (November 24, 2015). "Eldorado completes $72.5M purchase of MGM's Reno properties". Las Vegas Review-Journal. Retrieved November 24, 2015.
  6. ↑ Higdon, Mike (November 24, 2015). "It's official: Eldorado Resorts buys Circus Circus and Silver Legacy". Reno Gazette-Journal. Retrieved November 24, 2015.
  7. ↑ Diana Barr (May 2, 2017). "Eldorado completes Isle of Capri buyout, names Alberici exec to board". St. Louis Business Journal. Retrieved 2018-04-23.
  8. ↑ Jason Hidalgo (March 1, 2018). "Eldorado Resorts agrees to sell two casinos in Pennsylvania and Mississippi". Reno Gazette-Journal. Retrieved 2018-04-23.
  9. ↑ Marty Finley (July 9, 2018). "Churchill Downs Inc. terminates plan to purchase casino". Louisville Business First. Retrieved 2018-07-13.
  10. ↑ Corilyn Shropshire (April 16, 2018). "Elgin's Grand Victoria Casino to sell for $327.5 million". Chicago Tribune. Retrieved 2018-04-23.
  11. ↑ "Eldorado Resorts completes acquisition of Grand Victoria Casino" (Press release). Eldorado Resorts. August 7, 2018. Retrieved 2018-08-07 – via Business Wire.
  12. 1 2 "Eldorado Resorts completes Tropicana Entertainment acquisition" (Press release). Eldorado Resorts. October 1, 2018. Retrieved 2018-10-11 – via BusinessWire.
  13. ↑ "Gaming and Leisure Properties, Inc. completes previously announced acquisition of the real estate assets of Tropicana Entertainment" (Press release). Gaming and Leisure Properties. October 1, 2018. Retrieved 2018-10-11.
  14. ↑ Sam Karlin (October 5, 2018). "Belle of Baton Rouge changes hands for $18 million as part of Tropicana acquisition". The Advocate. Baton Rouge, LA. Retrieved 2018-10-11.
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