Market Overview

Eldorado Resorts Completes Acquisition of Grand Victoria Casino


Accretive Acquisition Further Expands Eldorado's Regional Gaming
Platform With Addition of Premier Gaming Destination in Chicagoland

Eldorado Resorts, Inc. (NASDAQ:ERI) ("Eldorado" or the "Company")
announced today that it completed the previously announced purchase of
the Grand Victoria Casino ("Grand Victoria") in Elgin, Illinois for
total consideration of $327.5 million in cash, subject to a customary
working capital adjustment. The transaction was financed with cash on
hand and borrowings under the Company's revolving credit facility. The
purchase price represents a multiple of approximately 9.0x trailing
twelve months Adjusted EBITDA (for the period ended June 30, 2018) which
Eldorado expects to reduce to approximately 6.0x or less within 18
months based on expected operating synergies and cost savings.

Gary Carano, Chairman and Chief Executive Officer of Eldorado,
commented, "Grand Victoria Casino is an excellent addition to our
operations and the transaction is consistent with our long-term strategy
to build shareholder value by pursuing accretive acquisitions. As with
our other recent acquisitions, we intend to quickly implement our proven
integration and operating strategies, allowing us to increase margins
and cash flow from the property and thus reduce the purchase multiple.

"Grand Victoria Casino is one of the premier casinos in the Chicagoland
market and given the quality of the property, our immediate focus is on
further enhancing the guest experience and operating results as there is
no need to undertake capital investments at the property beyond normal
maintenance expenses. We are very excited to welcome the Grand Victoria
employees to the Eldorado family."

Grand Victoria Casino, located in Elgin, Illinois, is approximately 40
miles west of downtown Chicago along the banks of the Fox River. The
property features 1,088 slot machines, 30 table games, a 12-table poker
room and four dining options, including Prime BurgerHouse, the
award-winning Buckinghams Steakhouse & Lounge, the Indulge Show Kitchen
Buffet and the 24-hour Crave Deli. It also offers 7,495 square feet of
meeting and banquet space, event and concert facilities, a 1,450-space
parking garage, and additional surface parking for 600 vehicles.

The transaction increases Eldorado's property portfolio to twenty one
properties in eleven states with a total of approximately 22,000 slot
machines and VLTs and 640 table games, over 7,000 hotel rooms and
approximately 13,000 team members.

BofA Merrill Lynch acted as exclusive financial advisor and Milbank
Tweed Hadley & McCloy LLP acted as legal counsel to Eldorado in
connection with the transaction.

About Eldorado Resorts, Inc.

Eldorado Resorts is a leading casino entertainment company that owns and
operates twenty one properties in eleven states, including Colorado,
Florida, Illinois, Iowa, Louisiana, Mississippi, Missouri, Nevada, Ohio,
Pennsylvania and West Virginia. In aggregate, Eldorado's properties
feature approximately 22,000 slot machines and VLTs and 640 table games,
and over 7,000 hotel rooms. On April 16, 2018, the Company announced
that it entered into an acquisition agreement for Tropicana
Entertainment Inc. with the transaction expected to close in the 2018
fourth quarter. For more information, please visit

Forward-Looking Statements

This press release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
statements include statements regarding our strategies, objectives and
plans for future development or acquisitions of properties or
operations, as well as expectations, future operating results and other
information that is not historical information.
When used in this
press release, the terms or phrases such as "anticipates," "believes,"
"projects," "plans," "intends," "expects," "might," "may," "estimates,"
"could," "should," "would," "will likely continue," and variations of
such words or similar expressions are intended to identify
forward-looking statements.
Although our expectations, beliefs
and projections are expressed in good faith and with what we believe is
a reasonable basis, there can be no assurance that these expectations,
beliefs and projections will be realized.
There are a number of
risks and uncertainties that could cause our actual results to differ
materially from those expressed in the forward-looking statements which
are included elsewhere in this press release.
Such risks,
uncertainties and other important factors include, but are not limited
to: (a) our ability to promptly and effectively implement our operating
strategies and integrate the business of Eldorado and the Grand
Victoria; (b) our ability to realize the expected synergies resulting
from the combined operations; (c) the possibility that the business of
the Grand Victoria may suffer as a result of the announcement of the
transaction; (d) the ability to retain key employees of the Grand
Victoria; (e) the impact of our substantial indebtedness on our
operations and liquidity; (f) sensitivity of our operations to
reductions in discretionary consumer spending; (g) governmental
regulations and the impact of gaming taxes, fees and related obligations
in jurisdictions in which we operate; and (h) other risks and
uncertainties described in our reports on Form 10-K, Form 10-Q and Form

In light of these and other risks, uncertainties and assumptions, the
forward-looking events discussed in this press release might not occur.

These forward-looking statements speak only as of the date of this
press release, even if subsequently made available on our website or
otherwise, and we do not intend to update publicly any forward-looking
statement to reflect events or circumstances that occur after the date
on which the statement is made, except as may be required by law.

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