Eldorado Resorts Enters into Definitive Agreement to Transfer Operations of Lady Luck Casino Nemacolin to Churchill Downs
ELDORADO RESORTS (ERI)
Last eldorado resorts earnings: 2/26 04:05 pm
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US:NASDAQ Investor Relations:
ir.eldoradoresorts.com
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Source: Business Wire
RENO, Nev.--(BUSINESS WIRE)-- 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
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