Reno, Nevada – November 10, 2022 – Eldorado Resorts, Inc. (NASDAQ: ERI) today announced that it has completed the acquisition of Isle of Capri Casinos, Inc. (NASDAQ: FLS) in a transaction valued at approximately $1.85 billion.
The acquisition was financed through a combination of cash and stock, with Eldorado issuing approximately 21 million shares of its common stock to Isle of Capri's shareholders. The remaining consideration will be paid in cash.
"This marks a significant milestone for our company as we continue to expand our presence in the gaming industry," said Tom Reeg, CEO of Eldorado Resorts. "We are excited about the opportunities that this acquisition presents and believe it will enhance our ability to deliver long-term value to our shareholders."
The addition of Isle of Capri's assets brings Eldorado's total count of properties to 41, including 21 casinos in operation across the United States. The company now has a diverse portfolio of gaming, hospitality, and entertainment options that cater to a wide range of customers.
"We believe that the combined strengths of our companies will create a more robust platform for growth and increased profitability," said Reeg. "Our goal is to continue to build on this momentum and become one of the leading gaming companies in the United States."
The acquisition is expected to be accretive to Eldorado's earnings per share within the first year following the closing of the transaction.
About Eldorado Resorts
Eldorado Resorts, Inc. is a leading hospitality company that owns and operates 41 properties in 18 states across the United States. The company's portfolio includes casinos, hotels, restaurants, bars, entertainment venues, and other related businesses.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to risks, uncertainties and assumptions. These statements relate to, among other things, our expected financial performance, including our ability to deliver long-term value to our shareholders, and the growth prospects of our company. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Forward-looking statements are based on various assumptions. No assurance can be given that such expectations will prove correct.
Contact Information
For more information about Eldorado Resorts, please visit our website at www.eldoradosh.com or contact:
Tom Reeg, CEO
(775) 322-2034
[email protected]
Chris Prygiel, CFO
(775) 322-2056
[email protected]
About Isle of Capri Casinos
Isle of Capri Casinos, Inc. is a leading hospitality company that owns and operates gaming properties in the United States and Caribbean.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to risks, uncertainties and assumptions. These statements relate to, among other things, our expected financial performance, including our ability to deliver long-term value to our shareholders, and the growth prospects of our company. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Forward-looking statements are based on various assumptions. No assurance can be given that such expectations will prove correct.
Contact Information
For more information about Isle of Capri Casinos, please visit our website at www.isleofcapricasinos.com or contact:
John Connelly, CEO
(314) 241-1111
[email protected]
Jobs at Eldorado Resorts
For more information about job opportunities at Eldorado Resorts, please visit our website at www.eldoradosh.com/careers.
Jobs at Isle of Capri Casinos
For more information about job opportunities at Isle of Capri Casinos, please visit our website at www.isleofcapricasinos.com/careers.