Why Eldorado Resorts Inc's Shares Popped 21% Today [The Motley Fool]
ELDORADO RESORTS (ERI)
Last eldorado resorts earnings: 2/26 04:05 pm
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ir.eldoradoresorts.com
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Source: The Motley Fool
Eldorado Resorts Inc is making bold moves by acquiring new resorts today. Travis Hoium ( TMFFlushDraw ) Apr 16, 2018 at 1:12PM What happened Shares of regional gaming company Eldorado Resorts Inc ( NASDAQ:ERI ) jumped as much as 20.9% in trading Monday after announcing some large acquisitions. At 11:55 a.m. EDT shares were still up 17.9% on the day and had recently hit their daily high. So what Eldorado Resorts agreed to acquire Grand Victoria Casino in Elgin, Illinois for $327.5 million in cash. The price is nine times trailing adjusted EBITDA and management said they expect to reduce costs enough to make the price six times adjusted EBITDA within 18 months. Image source: Getty Images. The bigger deal was an agreement to buy Tropicana Entertainment for $1.85 billion. The company's real estate will be sold to Gaming and Le
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