Market Overview

Eldorado Resorts Enters into Definitive Agreement to Transfer Operations of Lady Luck Casino Nemacolin to Churchill Downs


Eldorado Resorts, Inc. (NASDAQ:ERI) ("Eldorado" or the "Company")
announced today that it has entered into a definitive agreement with
Churchill Downs Incorporated (NASDAQ:CHDN) ("Churchill Downs") pursuant
to which the Company will transfer the operations of Lady Luck Casino
Nemacolin in Farmington, Pennsylvania to Churchill Downs for $100,000 in
cash consideration. Execution of the agreement to acquire the operations
of Lady Luck Casino Nemacolin was a condition to the closing of the
parties' previously announced agreement to sell Eldorado's Presque Isle
Downs & Casino to Churchill Downs. In connection with the execution of
the agreement to acquire the operations of Lady Luck Casino Nemacolin,
Churchill Downs will pay Eldorado a $5.0 million termination fee
associated with the termination of the agreement to purchase Eldorado's
Lady Luck Casino Vicksburg. The Company expects the sale of Presque Isle
Downs & Casino and Lady Luck Casino Nemacolin to close in the fourth
quarter of 2018 pursuant to customary regulatory approvals and closing

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.
Forward-looking 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 obtain required regulatory approvals (including approval from
gaming regulators) and satisfy or waive other closing conditions to
consummate the disposition of Presque Isle Downs & Casino and Lady Luck
Casino Nemacolin; and (b) the possibility that the one or more of such
transactions do not close on the terms described herein or that we are
required to modify aspects of one or more of such transactions to obtain
regulatory approval;; (i) and other risks and uncertainties described in
our reports on Form 10-K, Form 10-Q and Form 8-K.

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