Eldorado Resorts Enters Into Definitive Agreement to Divest the Eldorado Shreveport Resort and Casino and the MontBleu Resort Casino to Twin River for $155 Million in Cash
ELDORADO RESORTS (ERI)
Last eldorado resorts earnings: 2/26 04:05 pm
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ir.eldoradoresorts.com
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Source: Business Wire
RENO, Nev.--(BUSINESS WIRE)--Eldorado Resorts, Inc. (NASDAQ: ERI) (“Eldorado,” “ERI,” or “the Company”) announced today that it entered into a definitive agreement to sell the Eldorado Shreveport Resort and Casino in Shreveport, Louisiana and the MontBleu Resort Casino & Spa in Lake Tahoe, Nevada to Twin River Worldwide Holdings, Inc. (NYSE: TRWH) for $155 million in cash, subject to a working capital adjustment.In connection with this transaction, Eldorado terminated its previously announced agreements for the sale of these assets to Maverick Gaming and returned their deposits.The transaction is subject to regulatory approvals and is conditioned upon consummation of the Caesars transaction, Twin River obtaining financing and other customary closing conditions, and is expected to close in the first quarter of 2021.Tom Reeg, Chief Executive Officer of Eldorado, commented, “The agreement to divest Shreveport and MontBleu to Twin River Worldwide Holdings is consistent with our contin
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