Eldorado Resorts Completes Tropicana Entertainment Acquisition
ELDORADO RESORTS (ERI)
Last eldorado resorts earnings: 2/26 04:05 pm
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Source: Business Wire
Transaction Further Expands Eldorado’s Scale and Geographic Reach to 26 Gaming Facilities in Twelve States RENO, Nev.--(BUSINESS WIRE)-- Eldorado Resorts, Inc. (NASDAQ: ERI) (“Eldorado,” “ERI,” or “the Company”) announced today that it completed its previously announced acquisition of Tropicana Entertainment Inc. (OTCQB: TPCA) (“Tropicana”). The transaction further increases the Company’s scale and 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 expected to be realized in Eldorado’s first year of operation of Tropicana (and giving effect to the master lease described below). The combination creates a premier, diversified regional gaming platform with combined annual revenue of more than $2.7 billion and combined adjusted EBITDA (earnings before interest, taxes, depreciation an
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