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Eldorado Resorts to Acquire Tropicana Entertainment in Accretive Transaction Valued at $1.85 Billion

ELDORADO RESORTS (ERI)  More Company Research Source: Business Wire
Last eldorado resorts earnings: 8/2 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.eldoradoresorts.com
PDF Eldorado to Host Conference Call and Webcast at 8:30 a.m. ET Today RENO, Nev.--(BUSINESS WIRE)-- Eldorado Resorts, Inc. (NASDAQ: ERI) (“Eldorado” or the “Company”) announced today that it entered into a definitive agreement to acquire Tropicana Entertainment Inc. (OTCQB: TPCA) (“Tropicana”) in a cash transaction that is valued at $1.85 billion. The definitive agreement provides that Gaming and Leisure Properties (NASDAQ: GLPI) (“GLPI”) will pay $1.21 billion, excluding taxes and expenses, for substantially all of Tropicana’s real estate and enter into a master lease with Eldorado for the acquired real estate and that Eldorado will fund the remaining $640 million of cash consideration payable in the acquisition. The transaction is expected to be immediately accretive to Eldorado’s free cash flow and diluted earnings per share, inclusive of identified expected cost synergies of approximately $40 million in the [Read more]

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