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NEWS 9 November 2018

Eldorado Resorts posts small net revenue increase following acquisitions

By Nathan Joyes

Eldorado Resorts has reported a 3% year-on-year rise in Q3 net revenue to $487.3m, excelling in its South, East and Central segments.

In September, Eldorado Resorts entered an agreement to partner up with William Hill for casino, mobile and sports wagering opportunities.

A temporary sportsbook was opened in Atlantic City’s Tropicana Casino in October and the company expects to open another sportsbook at Mountaineer Casino Racetrack in West Virginia in late November.

Eldorado also completed the acquisitions of Grand Victoria Casino and Tropicana Entertainment in August and October respectively.

Gary Carano, Chairman and Chief Executive Officer at Eldorado, said: “The 2018 third quarter was another impressive period of growth for Eldorado Resorts as Adjusted EBITDA rose at 17 of our 21 properties. As a result, all five of our property segments generated year over year Adjusted EBITDA growth.”

“We are excited about our future as we continue to integrate our newly acquired properties, focus on initiatives that are expected to deliver margin improvement from our operations and position ourselves to benefit from developing sports wagering opportunity in the US.”

 

 

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