Isle Casino Racing Pompano Park

Gambling Facilities and CasinosNevada, United States1001-5000 Employees

ELDORADO RESORTS COMPLETES ACCRETIVE CASH AND STOCK ACQUISITION OF ISLE OF CAPRI CASINOS

RENO, Nev. & ST. LOUIS--(BUSINESS WIRE)-- Eldorado Resorts, Inc. (NASDAQ: ERI) announced today that it completed its acquisition of Isle of Capri Casinos, Inc. (NASDAQ: ISLE) in a cash and stock transaction. The combination creates a premiere, diversified regional gaming platform  with the addition of 12 casino–resorts to ERI's portfolio. The expanded property portfolio includes 19 properties in ten states featuring approximately 20,000 slot machines and VLTs, more than 550 table games and over 6,500 hotel rooms.

Gary Carano, Chairman and CEO of ERI, commented, “Our acquisition of Isle of Capri marks a significant milestone in Eldorado’s history of growth through strategic, accretive acquisitions. The combination significantly expands the scale of our gaming operations, further diversifies our geographic reach into new markets and minimizes market-specific risk.

“We are delighted to welcome the Isle shareholders and team members to the Eldorado family. We believe that Eldorado is positioned for continued growth with a portfolio of premiere regional gaming assets, a solid balance sheet and an attractive weighted average cost of capital. Our experience in integrating the MTR assets and Silver Legacy and Circus Circus operations will serve us well as we add the Isle of Capri assets to our operating base. We intend to implement our strategy of focusing on margin enhancement and customer service and experiences across the portfolio by marrying best practices from both companies. Led by our gaming, hotel management and food and beverage teams with a long-term record of operating execution and M&A integration, we believe that Eldorado Resorts is positioned for near- and long-term success and the creation of value for our shareholders.”

For more information, please visit www.eldoradoresorts.com.

Sign up for free to view info

Email Format Employee directory