Eldorado Resorts and Churchill Downs Announce Mutual Termination of Lady Luck Casino Vicksburg Transaction and Amendment to Presque Isle Downs & Casino Transaction
ELDORADO RESORTS (ERI)
Last eldorado resorts earnings: 2/26 04:05 pm
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Source: Business Wire
Churchill Downs Agrees in Principle to Assume Management of Eldorado Resorts’ Lady Luck Casino Nemacolin RENO, Nev.--(BUSINESS WIRE)-- Eldorado Resorts, Inc. (NASDAQ: ERI) (“Eldorado” or the “Company”) and Churchill Downs Incorporated (NASDAQ: CHDN) (“Churchill” or “Churchill Downs”) announced today that they have terminated their previously announced agreement whereby Churchill was to acquire substantially all of the assets and properties associated with Lady Luck Casino in Vicksburg, Mississippi (“Lady Luck Vicksburg”) and amended their previously announced agreement whereby Churchill is to acquire substantially all of the assets and properties associated with Presque Isle Downs & Casino in Erie, Pennsylvania from Eldorado (collectively, the “Termination and Amendment Agreements”). Pursuant to the Termination and Amendment Agreements, Churchill will pay Eldorado a $5.0 million termination fee, subject
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