Eldorado Resorts

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Eldorado Resorts
Public
Traded as
Industry Entertainment & Hospitality
Predecessor Eldorado Holdco LLC and MTR Gaming Group
Founded September 19, 2014; 3 years ago (2014-09-19)
Reno, Nevada, U.S.
Founder Don Carano[1]
Headquarters Reno, Nevada, U.S.
Owner Carano family and shareholders
Website Official website

Eldorado Resorts, Inc. is a gaming company based in Reno, Nevada.

History[edit]

Eldorado Resorts was formed on September 19, 2014, by the merger of MTR Gaming Group and Eldorado Holdco LLC.[2]

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.[3][4]

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.[5]

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.[6] 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.[7]

In April 2018, the company agreed to acquire the operating business of Tropicana Entertainment for $640 million, adding seven casinos to its portfolio. Gaming and Leisure Properties would simultaneously purchase the real estate of six of the casinos and lease them to Eldorado for a total of $110 million per year.[8][9] In August 2018, Eldorado bought the Grand Victoria Casino in Illinois for $328 million.[10][11]

List of properties[edit]

The properties owned and operated by Eldorado Resorts are:

References[edit]

  1. ^ http://www.kolotv.com/content/news/Eldorado-founder-Don-Carano-dies-449426743.html
  2. ^ John Guerriero (September 20, 2014). "MTR Gaming merger with Eldorado now official". Erie Times-News. Retrieved 2014-11-27. 
  3. ^ Stutz, Howard (November 24, 2015). "Eldorado completes $72.5M purchase of MGM's Reno properties". Las Vegas Review-Journal. Retrieved November 24, 2015. 
  4. ^ Higdon, Mike (November 24, 2015). "It's official: Eldorado Resorts buys Circus Circus and Silver Legacy". Reno Gazette-Journal. Retrieved November 24, 2015. 
  5. ^ Diana Barr (May 2, 2017). "Eldorado completes Isle of Capri buyout, names Alberici exec to board". St. Louis Business Journal. Retrieved 2018-04-23. 
  6. ^ Jason Hidalgo (March 1, 2018). "Eldorado Resorts agrees to sell two casinos in Pennsylvania and Mississippi". Reno Gazette-Journal. Retrieved 2018-04-23. 
  7. ^ Marty Finley (July 9, 2018). "Churchill Downs Inc. terminates plan to purchase casino". Louisville Business First. Retrieved 2018-07-13. 
  8. ^ Velotta, Richard N. (April 16, 2018). "$1.85B deal merges Tropicana Entertainment, Eldorado Resorts". Las Vegas Review-Journal. Retrieved 2018-04-23. 
  9. ^ "Eldorado Resorts to acquire Tropicana Entertainment in accretive transaction valued at $1.85 billion" (Press release). Eldorado Resorts. April 16, 2018. Retrieved 2018-04-23 – via Business Wire. 
  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. 

External links[edit]